How High School Students Can Make Smart Money Choices

As a high school student, you undoubtedly have a bright future ahead of you, and you can make that future even brighter by learning some simple principles of personal finance.  

If you want to own a beautiful house and car, these things will likely require good credit. Good creditworthiness is a combination of low debt, high income, and a strong history of repayment.  

WORKING BACKWARDS FROM THE OUTCOME – CREDIT

GOING FROM YOUR DREAM LIFE TO REALITY

A great choice is a low-risk index fund based on the S&P 500 at least this is the advice Warren Buffet, the world’s greatest investor, gave to high school students. By putting aside a percentage of your income every month and investing it, you will be building the same habit Warren Buffet started building at 12 that caused him to become one of the richest men in the world.

BUILDING A HABIT OF BUYING VALUE

One of the greatest habits you can learn as a high school student is how to buy things based off of value rather than off of the price. alue means buying things that are a great deal and are high quality.  

LEARNING TO BE FINANCIALLY SAVVY AND BUILDING A BUDGET

Being able to create a budget for yourself will make your life infinitely easier in your early twenties as you make your way through college and start out on your own. Budgeting is really about planning how you will spend your money before you actually spend it.

LEARNING TO BE FINANCIALLY SMART

One of the greatest keys you can use to unlock the prosperity of your financial future is to continuously learn. Some great books to help you get started is to read The Intelligent Investor, which will teach you the fundamentals of investment or the Millionaire Next Door, which gives you an insight into how Millionaires manage their money.

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