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  • Qingqing Ouyang

Youth Financial Preparation

In school, personal finance is typically not taught. However, these financial skills are critical in the future. Learning to make money, manage money, and spend money is necessary to not go into debt or other financial errors. As a student or teenager, there are a few ways you can start to prepare yourself for the future.


As a teenager, besides studying for standardized tests and playing video games, it is a great time to start building credit. A credit score is a financial score made for you that reflects how well you return or manage your money. Undeniably, a better credit score means a selection of better loan choices and financial deals.


To accomplish this, becoming an authorized user under your legal guardian is a good way to start building credit. If you are above the age requirement, 13 to 15 years old generally, have your guardian add you to their card. To regulate, guardians can call the banks to report activity to watch over the minors. Talking to your guardians is the best way to make this happen.


Additionally, minors can also apply for a student card. While these credit cards are headed towards college students, teenagers older than 14 can apply for a debit card. To do this, talking with your guardians and going to the bank is the primary way to start a debit card. For example, many banks require in-person start-up for the student debit card, and the process must be done with a bank consulter and a guardian.


Additionally, small investments can also be made during your free time. Learning from an experienced advisor can aid you through the process. Not only investing, starting your own business, or getting a job at the nearby diner are also great ways to make money. Offering to make flyers for others, watching their dog, babysitting. The truth is, there are many ways to make money, and the best way is to start NOW!!!


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