Financial Tips for High School Graduates

7 Jun 2016 · 1 min

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This content was created by Alan Akina. This content was uploaded by Alan Akina. This is a YouTube segment titled "Financial Tips for High School Graduates" (Wake Up Today) published June 7, 2016. It is a short, solo advice piece presented by Alan Akina offering five financial tips for recent high‑school graduates—live within your means, avoid unnecessary debt, use compounding (start a Roth IRA and invest in low‑cost index funds), build and monitor credit (target ~750+), and keep money from stressing relationships. Metadata: YOUTUBE content, thumbnail provided.

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Good morning, gang. So you graduated high school. Now what? When it comes to money, now things really count. But with only 17 states across the country requiring high school students to take financial literacy courses, getting financially fit could be an uphill battle. So here are 5 tips to help you navigate the financial world. Number 1, live within your means. What this simply means is to spend less than you make each month. Avoid debt as much as possible. Now I understand debt is necessary for certain things like buying a home or even for college, but only take what you need and not a dime more. Use the power of compounding interest to make you rich. Set up a Roth IRA and invest a little bit of money each month in a low-cost index fund. Now starting early in life and making it automatic will pay off big time. Number 4, mind your credit. At this age, you may not have a credit score yet, but now is the time to work on it. A great target to shoot for is 750 or higher. And number 5, have fun with your finances. Do not let money stress you out and affect your relationships. Remember, it's just money. For Wake Up Today, I'm Alan Akina. See you on Monday.