This piece is part of my 2016–2026 archive migration. Some original formatting, content, and external links may be missing, changed, or not be optimized.
You don’t have to be in your 30s to handle your money, right
Most importantly, I’ve learned how to manage debt instead of allowing it to manage me. Debt is something most people allow to run and ruin their lives. It’s not encouraging to realize that the majority of people leave this earth with their pockets chained to debt repayments. Humans rarely die financially free.
High Schoolers & College Students
High schoolers and college students aren’t expected to successfully manage money, which is why many credit card companies bombard students with offers; they’re easy to wrangle into debt. If you can get people chained to debt early, you can earn a fortune from interest repayments.
Students drowning in student loans and credit card debt are credit card companies’ favorite clients, especially those who pay the minimum payment or get their parents to cosign on their debt accounts.
High School Student Tips
Spend less than you earn.
Open an investment account.
Save 15% or more of your income.
Create at least two income sources.
Buy your first car with your own money.
Read books on personal finance and never stop reading them.
Don’t financially depend on your parents for anything but housing (if that).
Work a regular job to understand the costs of trading time for money early. I worked in retail and fast food, but I also was an entrepreneur (i.e., tutor, music teacher, blogger, author, upscale window washer, administrator, saleswoman, etc.) I’m grateful for the experience; I knew I would never be in those roles long-term because the pay didn’t make sense for the time I was giving in return.
College Student Tips
Maintain a consistent income source while going to school.
Don’t feel pressured to get a credit card. I didn’t get a credit card until I graduated.
Invest time into finding scholarships or programs to pay for your education to avoid student loans. You can also work yourself through college by taking fewer semester hours.
Consider off-campus housing, living with roommates, or staying with family. On-campus housing can come with skyrocketing prices.
If you want to get multiple majors, consider fast-tracking so you don’t have to stay in school longer than necessary. For example, I earned three degrees in five years. Some classes counted toward multiple majors and saved me considerable time.
Meal plans are optional. And often, the food isn’t that stellar anyhow. Do you own grocery shopping and cooking or utilize a meal delivery service; it’s likely cheaper than your college meal plan. When I was going to school, the meal plans cost thousands of dollars. Once I got off the meal plan, I only spent $30-$50 on food/week.
For free personal finance classes, calculators, and more, check out the MOAM reader resource page.
This content is for informational purposes only — not professional advice. Consult a qualified professional before making any major decisions.