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

Is Saturday working for ICICI Software Dev team?

I passed out in 2013 and started job in 2015 on contractual basis till mid 2017 and during this Many payroll companies changed for that particular contract and in this duration my PF, tax didn't deduct and no record in PF portal. Then joined Infosys in mid 2017. So now wanted to know can I show my experience from 2017 to apply in companies as for bgv many companies ask for PF statement or form 16 for all previous companies. How should I deal for 4 years gap if i show exp. from 2017 ?

like

I took consumer behavior classes in school and I’ve seen bits and pieces of it in my job as a media planner, but I want to do it full time. What career opportunities exist for consumer behavior?

Hello! How can I break into the creative branding industry with 3 years of basic marketing knowledge, a self made website, and an extensive sales background in the CPG industry

Hi All, Amex is offering 14 fix, ctc-16 . Should i accept it? Pls guide From Infosys for 11 fix, ctc-13.5 . Skill- data Governance Which will be better to join considering growth and learning. Infy manager told they have onsite opportunities Cctc- 7lpa, yoe-3.2 Infosys Limited Tata Consultancy Amex American Express

Netherlands, Eindhoven salaries for Java devs

like

Are hike and VPB different? I joined in April 2022. I received VPB letter today.

Help me out folks

like

I think we should create a compensation thread in this bowl. It would help a lot of people who are planning to switch companies/jobs or who are moving to this region. Just a thought, since it’s one of the most common questions asked here.

likeuplifting

Why do tech people like Stratecherry so much? I don’t find it particularly insightful. Am I missing something?

like
like

What should be average salary for Scrum master 3years exp and overall 7 years exp?

like

All you first person shooter players should feel good today. Prosecutors hopefully have gotten the message that bringing ones call of duty playing into a murder trial is incredibly ridiculous.

like
like

Is it normal in Amex that managers (leaders) are arrogant and doesn’t give a damn? Or is it just me with a sheer bad luck!

like

If we are billable on project in nagarro do we need to worry about recession for now .
One more question:
What is nagarro planning how to handle recession:
Lay offs or salary cut or stop increment.

Please anyone from leadership reply

Hi Sharks,

Looking for single occupancy in flat near EON zone Kharadi.
Please provide some leads.

*need private room in flat.

like

Hi folks,

Looking for fully furnished 1/2 BHK flat for rent in between SB road and yerwada area (any area between this would be okay). Would appreciate if any leads are provided.
Thanks.

like

Hi Fishes, I got offer from IBM but the notice period during probation is mentioned as 90 days?
I heard it's 30 days in most of the cases and after completion of probation it's 90 days?
Can you please advise? Are there any special cases where it is 90 days during probation?

This is Aditya Chickerur from Hyderabad. I am looking for a job in IT sector. Input will me much appreciated

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