High school students can pursue college education by saving enough money for their college tuition fees and other expenses in their college education. Find out how can high school students save money in different ways to prepare their expenses for college years.
While I am studying in high school, I never thought that saving money is very important. When I was just a student, what I always do is to go to the basketball court, go to the malls, playing video games, buying all the things I might think it makes me happy.
If you are just a high school students now, you better learn from my personal finance mistakes. The following are the mistakes I did to my finances;
I did not saved money.
I always ask for allowances.
I sometimes lazy finding a part time and vacation jobs.
I just play, play and play.
I wasted my time and my personal money.
Imagine if high school students will save $5 every day in 365 days for 6 years (junior high school to senior high school), this is what he can have after 6 years of saving five dollars a day.
- Grade 7: 365 X $5 = 1,825.00
- Grade 8: 365 X $5 = 1,825.00
- Grade 9: 365 X $5 = 1,825.00
- Grade 10: 365 X $5 = 1,825.00
- Grade 11: 365 X $5 = 1,825.00
- Grade 12: 365 X $5 = 1,825.00
- Total: $10,950.00
If the savings was invested every year that earns at least 5% a year, after 6 year, a high school student that saved $5 a day or $1,825 per year will make $12,413 (twelve thousand four hundred thirteen dollars) in six years. Here is the table of investment capital and look at how compound interest works;
High School Students Should Familiarize the Investment Types
If you want to earn more, invest money. Don’t just save. Learn the different types of investments. I am sure some of these investments are fitted to every high school students.
Maybe you will say, hey I will become a college student, do you think $12,000 is enough to finish my college course? Well, here is the trick for you to save a lot of money (enough money) for your college education;
First, you saved $5 a day and you will make $1,825 per year and invest them every year that earns at least 5%. Second, after you graduated senior high school since you are a K-12 students, all you need to do is use the money you saved in earning extra income.
Invest your savings and the other will use for your college tuition fees. While you are studying in college, you should find a way how to increase your savings. The best way is to earn extra income. If you can work part time, that’s good. But if you can start your own small business using the excess money you just save (I am talking to your 6 years savings when you are just a high school students).
High School Students Should Learn Personal Finance and Investing in School
How can you save money if you don’t have money? Just ask your parents to increase your allowance. Tel them your plans, that you want to save for your college education. You can do it. But if you’re afraid, tell your parents to open a bank account for you. It will be better if parents will open a “in-trust-for” investment accounts for their children while they are just high school students.
As far as I know, personal finance didn’t taught in school. You can teach yourself while you are young. Saving and investing is the key to financial freedom. High school students should know not just how to save for their college education but should also learn how to invest money for their financial future.
Believe me, you can invest money even if you’re under 18. I hope you find this personal finance and investing tips useful. For more guides and information, always visit Daily Investing Tips | www.InvestmentTotal.com Share this page with your friends.