All right. You’ve come a long way already, but the more you practice and stretch your new money skills, the better you’ll be able to handle those real-life curveballs when they come your way.
Keep developing your money know-how by:
- Helping your family create a monthly budget
- Add up how much is coming in, subtract for the necessities you have to spend on every month, and figure out what’s left over for saving or spending.
- You can use an app or a spreadsheet or try our budgeting worksheet.
- Writing a financial mission statement
- Think carefully about what your top financial priorities are—whether saving for college, a splurge on something you really want, or buying a car.
- Write them down and then post your mission statement somewhere you’ll see it often to help you stay motivated and focused.
- Looking for ways to save money
- Whether it’s in your own spending or your family’s, try to find ways to trim.
- Search for sales, find cheaper alternatives to your favorite products, and look for any extra expenses you can manage to cut out entirely.
- Making sure your money is safe
- Come up with a secure system for the passwords you use, and delete any stored payment information online.
- Keep your wallet in a safe spot, put extra cash in a bank account, and always keep any credit or debit cards close.
- Crunching the numbers on college
- Look up the cost of a college you’d like to attend and talk to your parents about coming up with a plan to afford it.
- Learn about the potential types of financial aid, search online for scholarships, and think about ways to save on the cost (like living on or off campus).
- Planning a family vacation
- Take a stab at planning (and working out the cost of) your family’s next big trip.
- Go big! (Or stay home!) In addition to flights and hotels, don’t forget the costs of activities, meals, and any shopping you’ll want to do.
- Draft a business plan for your future company
- Find out what happens if you run with your idea.
- Figure out what your business will do, what resources or permits you need, how you’ll fund it, who your customers might be, what competitors you’ll have, and how you’d get the word out.