TEEN BLOG

A Message from a Youth Perspective with current events and topics related to Youth Trends and Mental Health tips 

Secure the Bag: A Teen’s Guide to Financial Literacy

Let’s face it, no one’s born knowing how to handle money. But if you learn the basics now, you’ll be way ahead of the game later. That’s what financial literacy is all about: knowing how to earn, save, budget, and avoid being broke (or scammed).

So… what is financial literacy?

It’s knowing how money works. Things like how to make a budget, how a credit card really works, or why saving $10 now is better than blowing it on fast food every day.

Why teens need to learn this now:

Most schools don’t teach it. But the world still expects you to know how to manage money once you’re on your own. Whether you’re working a summer job or just getting your first debit card, having basic money skills can help you avoid debt, build credit, and make smarter choices.

Here’s how to start:

1. Track your money.
   Figure out what’s coming in (like paychecks or allowance) and where it’s going. Free apps like Goodbudget, YNBA, or just using Notes on your phone can help.

2. Save first, spend later.
   Even if you only save $5 a week, it adds up. Try to always save a percentage of what you earn—no matter how small.

3. Know how credit works.
   Credit cards can trap you in debt if you’re not careful. Learn what interest is, how credit scores work, and why you should care before applying for anything.

4. Avoid scams.
   If someone’s offering free money or asking for your info “ASAP,” think twice. Always double-check links, texts, and job offers.

5. Ask questions.
   There’s no shame in not knowing everything. Ask someone you trust, use YouTube, or check sites like consumer.gov for real info.

Bottom line:

Money isn’t just for adults. The earlier you get comfortable with it, the more freedom you’ll have later on. You don’t need to be rich to be smart, you just need to start now!

Sources:

Consumer Financial Protection Bureau. (n.d.). Youth Financial Education Resources

T. Rowe Price. (2022). Parents, Kids & Money Survey

NerdWallet. (2024). Money Tips for Teens

Written by Mercury Cole

YHELP! Intern Blogger