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By the time this post goes up I will be in the process of speaking to a group of Juniors and Seniors at Standley Lake High School in Westminster, CO. We are going to be chatting about one of my favorite topics…using coupons to save money!
I thought it would be fun if we each took a moment to share with the students just one thing that we wish we would have known about saving money when we were in high school.
Here is one from me to get us started:
That $60 Abercrombie sweater likely will not be in style/will not fit in a few years. 🙂 Put that hard earned money toward something more useful!
Andrea says
Don’t get into consumer debt. So you can follow your heart and not be a slave to debt.
amanda says
I’ve found that having an online savings account has been very effective to help build my savings. You get an interest rate that is typically 10 times that of a “bricks and mortar” bank, and the money takes a couple days to transfer to a “bricks and mortar” bank account so it makes it harder to use savings to pay for anything impulse-like.
beth says
My advice is learn the basics of budgeting and stick to it…If you live within your means you will be richer than most Americans.
Charlotte says
Not to be rude Nicole, but I have to disagree with your comment from personal experience. That was my full mentality about credit cards until a few years ago. In college I thought I was being smart by not getting a credit card, I just used debit for everything. Well then I got married and started learning about the concept of credit…and realized that I had NO credit history! This prevented me from having my name on our mortgage when we bought a condo last year! I had to jump through hoops to get a credit card and ended up with a “secured” credit card (you put money in an account equal to your max amount on your card which was like $200 and still make payments every month to prove yourself, then at the end you get your $ back from the account) which was a pain until I started getting offers for real credit cards. Now I always charge a few things and pay it off in full every month. Everyone needs to have a credit card but nobody needs to pay interest on one! Only charge what you absolutely know you can pay off! The rewards programs can be great if you are responsible and always pay off your full balance on time. If you have a credit card and never use it that doesn’t help you show that you can make on-time payments which will affect you credit score.
hannah says
She’s right; also the length of credit card history is very important too! An account that has been open a long time and in good standing will help a lot.
I’m from Canada and here by marriage, and it has really been lousy to have no credit score at all( canadian one doesn’t just “transfer” over). Everything has to be in my husband’s name or with his credit, and it will take me a long time to build credit up to where it was back in Canada.
So start young building credit, it will save you a ton of money in so many ways!
Nicole says
DON’T get a credit card, and if you do…DON’T USE IT!!!
Finish college as soon as you can. Try not to pay full price on anything…make your goal to be 50% off or less. Start a savings account.
Lorie says
Don’t spend a bunch of money on a wedding. I wish I had used that money for a down payment on a house.
Joan says
Don’t go to the grocery store when you’re hungry!!!!
Ben says
These are all good tips above. I would say don’t sell yourself short when it comes to getting your degree. You have your entire life in front of you and building a good foundation of education now will pay off significantly in the long run.
Karla says
You hardly ever had to pay RETAIL for anything. Take your time comparison shopping before making big purchases. Start saving for a downpayment on a house. Invest in your retirement NOW. You don’t really need cable TV. Chicks don’t dig a fancy car….if they like you for your car, then they’re not liking you for who you are.
April K. says
Don’t wait to start an emergency savings account. You will be really glad that you have it when you need it.
Ashley says
Use coupons at the grocery store to save money…it is so worth it!
Meghan says
Wow- loaded question!! 1) compound interest is the best! Invest NOW!! 2) READ- I love Dave Ramsey’s books & I would also suggest reading “Rich Dad Poor Dad”, “The Millionaire Next Door” 3) Think long term- can you live w/o _____ “item”, does it increase your net worth? 4) Don’t go into debt
Good luck!! sounds like a lot of fun- wish I could be there to hear what you have to say.
Holli says
Credit cards are for EMERGENCIES. That $60 Abercrombie sweater is NOT an emergency. I’m still paying off credit cards for lots of things that I don’t even own anymore.