College & Money: What Every Teen Should Know Setting Your Teen Up for Financial Success at College

6 hours ago2 min read

Essential Money Skills for College-Bound Teens

Going off to college means taking responsibility for daily finances. To manage this well, teens need to understand budgeting, making informed purchasing decisions, and handling credit wisely. A solid financial foundation ensures they can cover monthly expenses and avoid financial pitfalls.

A good credit score is crucial, as many landlords check credit before approving a lease, and utility companies may require large deposits for those with low credit ratings. Additionally, teens with paid employment can open a retirement account and take advantage of employer matches when available. Investing early allows for long-term growth through market gains and compounded returns.

College financial aid can be complex. It’s essential to evaluate all available options, considering the long-term costs and benefits. One often-overlooked factor in controlling education expenses is graduation time—finishing in four years instead of five or six can significantly reduce costs and allow for an earlier start to a career.

Financially Independent Teens is a valuable resource for both teens and parents. It covers essential topics like setting up accounts, budgeting, saving, investing, and credit management. The book also explores college loan options and budgeting strategies through real-life examples and stories, making financial concepts easier to grasp. Financially Independent Teens is available on Amazon.

Check out our books and other posts on financial independence at:

eck out our books and other posts on financial independence at

https://parentsfin.wixsite.com/website/books or our books on Amazon

Raising Financially Children

Financially Independent Teen

Financial Essentials for Couples

Financial Essentials for Women by Women

Retirement Guidebook

Budgeting for Women by Women

Investing for Financial Independence

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