My teenaged brother got his first job, and I’d like to give him some starting financial tips. What do you think is most important for a teenager to understand about money?

like
Posting as :
works at
You are currently posting as works at

Never spend more than you make.
Get a credit card, put everything on it and pay it off when the bill comes. This help them build their credit score.
When my kids started driving, I added them on my credit card. They had to do the grocery shopping with a list and use their card.

like

The importance of investing automatically, and early. Explain the power of compound growth in real, tangible numbers. And talk about emergency savings as a tool and a means to freedom.

I would say teach them about a 401k and saving for retirement. I wish someone had talked to me about that when I was younger. I should have started saving for retirement sooner.

I’m not sure their job has a 401k option, but I definitely see the value in getting him set up with an IRA.

Personally I think saving is the most important. It’s all well and good investing etc but I think learning how to split your money is one of the basics we should all know

Related Posts

Not a meme but…

Post Photo
likeupliftingsmart

Sometimes it is not...

Post Photo
likefunny

Does anyone have any suggestions on small side gigs or other ways to make some quick cash for the holidays?

like

We have 3K followers but our Facebook posts are getting almost no reach. Help?

like

I was rejected from a job because I don’t have a big online presence. Why does work have to be my hobby, too? Is this normal?

like

Are you an experienced community and social media manager expert with 4 to 5 year of experience.
You can DM.
Let’s make a deal.

like

I have a 401k from my previous employer in Meryl Lynch. Current 401k is in fidelity. I would like to know if it’s easier to roll over ex employer contributions to fidelity (or) open an independent IRA account. I don’t intend to withdraw money from or take a loan on 401ks

like

I know, I know I shouldn’t complain but it HATE my job. My mental health has never been worse. And I’m so so beyond unhappy. Any advice to get through this seeing as the job market might be difficult to navigate at this time?

like

I see a lot of people arguing in one of the posts. Can we stop arguing and share what we had today in breakfast, lunch and dinner?

like

What can be salary range of lateral hire in HCL for SAP functional with 16-18 years experience

like

Comp at Oliver wyman and LEK as 2 year experienced hire?

like

Just took delivery, and I’m already looking with pity at the rest of my pieces that don’t have a unique use or complication. Extremely comfortable everyday watch.

Post Photo
like

Hi Fishes,

l interviewed for Deloitte (India not USI) in January, and accepted an offer letter with DOJ of 25th April, later HR asked me to join on 11th April for which I agreed. Now I haven't received the revised offer letter or any links other than BGV and Pre-Hire form from Deloitte and now the HR is not even picking my calls or responding to emails.

Any advice on what to do?

like

I am looking into a Product Manager role at M&T Bank. Does anyone know the salary range or can tell me about the work/life balance?

like

I had very positive feedback on my interviews for a S&O role but the team hired someone internally. If I interview again for a differenr role, would I have to do all the interviews again or can I use some of the scores from previous interviews. I understand doing RRK again makes sense but what about GCA, googlyness or leadership . Thank you

like

Hi... Anyone joining at UBS this week or next?

What's the DL on your city? Might be making a move there from Kansas City for my husband's job.

like

Can I get 22 loves please ?

likeupliftinghelpfulsmartfunny

Hi folks,

I am expecting an offer from Globant I just want to know if there is any bench policy? and how about job security and wlb in globant

like

What tools do you all swear by for insights and usage and behaviours?

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Scan your QR code to download
Fishbowl app on your mobile

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal