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Resources for Teens
The Foundation: Teen Money Manifesto
These are the basic tenets of money that all teens need to understand and adopt. Download the PDF and share it with your teens to start them on their journey right.
The Power of Compounding
The importance of this concept cannot be stressed enough for teens. Do you want to be a millionaire by the time you retire? You can when you use the Power of Compounding to your advantage. Learn more about this concept from this article in our blog.
Budgeting 101
Budgeting is simply telling where your money should go before you get it. By setting up a budget before you receive money, you're developing a plan to help you achieve your goals!
If this is your first budget, start with 10/10/10/70.
Your "Give" portion should be at least 10%. This not only keeps you away from the poison of greed, but it also develops your heart for generosity.
Your "Grow" portion can be adjusted according to your income. It is recommended that you save at least 10% to invest and grow.
You may not "Owe" any debt or any taxes currently. But as your income grows, so will your tax %, and this category will need to be adjusted accordingly.
The "Live" portion is what you live on. This includes eating out, grocery shopping, buying gas, seeing doctors, watching Netflix, etc.
These percentages should be adjusted as you get more experience and earn a larger/smaller income.
Fun & Educational Videos
Here are some fun videos that will make you think about your own financial plan. Reach out to us to discuss your specific situation.
Cycles of Investing
What are Bull and Bear Markets?
The Power of Compound Interest
Focus on Your Purpose
Facts About Income Taxes
Behavioral Finance
Giving: Smart from the Heart