How to Secure Your Financial Future As a Teen Learning financial concepts as a teen will set you up for success in the future.
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Today's News for Tomorrow's Brew
Today's News for Tomorrow's Brew
How to Secure Your Financial Future As a Teen Learning financial concepts as a teen will set you up for success in the future.
source
I have a better idea. Quarter your social life
It's much better to get your own cards than be an authorized user. The reason is that if you're an AU and your parents remove you, or the account closes, all that credit history vanishes and now your oldest account is significantly younger. Open 3 cards with $0 annual fees as a teen, and make sure to post transactions to them at least once a month so they don't get shut down for inactivity. This will do absolute wonders for your credit history. Piggybacking could be a good strategy to do in addition to this – but make sure your parents actually have good credit, and do some research. Every bank handles AUs differently, which means there are different approaches to take for different banks.
And most people are not going to stop 50% of their socializing – this is just unrealistic advice and when kids fail to do it they'll feel bad about themselves for not following the advice.
Be skeptical about advice online
Lol ok the first few, yes 100%. But the last one wtf 🤣 of COURSE you won’t have them in 10 years if you don’t spend time with them! Keep your friends y’all
Three things I wish i have done as teenager:
1. Learning new languages and travelling to different cultures
2. Preventing myself from establishing a Credit card account
3. Spending 50% more time with friends and executing all sorts of adventures (instead of postponing them)
And develop skills.