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Finance for High Schoolers

Whether it’s a high schooler collecting their first paycheck after school, or a soon-to-be college student learning the ropes of independent living, those first steps towards financial literacy can be daunting. Fortunately, a bit of education and guidance can take the fear out of finance. The students in our lives deserve advice that will set them up for success, and we have the opportunity to provide it.


Where to Start

Try not to overcomplicate it up front. Introduce core concepts organically in conversation with your teenager, things like budgeting, saving, and borrowing. With each chat, concerns about tackling bills and balances should ease in your high schooler’s mind. 

Begin with the basics, and avoid the mistake of biting off more than you can chew. Plus, sticking with the essentials early on will help keep your student’s interest, and increase the chances of your guidance resonating. 

The first steps of financial freedom don’t have to be scary. By sharing basic financial tips with our kids, they’ll be in a better position to make sound, sensible decisions with their money. Check out some of our favorites!


Starter Savings Tips

  1. How to be a Smart Shopper: Start with the world of comparison shopping. Teach your high schoolers to compare prices, look for deals, and think critically about purchases to avoid impulsive buying. If there’s room for the occasional splurge, great! But shopping for savings is a basic fundamental for all of us. 
  2. Planning is Everything: Goal-setting will help your student know what it takes to save for those big-ticket items and set them on a path to success. Talk to them about setting short-term and long-term financial goals, like saving for a car or college, and create a plan to achieve them. Creating (and sticking to) a financial plan is a great practice for monetary discipline at any age. 
  3. Don’t Ignore Interest: The concept of interest is essential for young savers. Be sure to explain the benefits of saving money and introduce the concept of interest early on. This should include how interest works in savings accounts as well as the cost of borrowing. This is a crucial step towards a brighter financial future. 
Tip: Try to have fun with it!
Technology like mobile apps and other online tools, can make the financial education process fun and interactive. There are a wealth of resources available for tracking personal finance and getting into investing. Share them with your student to get them engaged. 


Our Philosophy

While financial responsibility is something we all take on individually, remember that there’s a team in your corner whenever you need it. 

At Point Breeze, we are the team in your corner, ready to offer resources that make your children’s financial education easier. We have a wealth of tips to equip your family and all of the young savers in it. Remember, a knowledgeable shopper is a safer and savvier shopper. 

Tip: Scam-Proof your Student
A lack of financial knowledge can make younger folks more vulnerable to scams, predatory lending, and other forms of financial exploitation. Sound financial education empowers them to recognize and avoid such risks. 


Point Breeze Picks

FAQ on Fraud on Scams
Financial fraud and scams get more sophisticated each year. We have all the FAQ on these dangerous threats, including tips to keep your money safe.

Words of Wisdom
Check out our official blog, tackling new financial education topics with each post. There’s no shortage of wisdom online. 

Make a Game of it with Zogo
Financial education is serious business, but it helps to have fun in the process. Zogo is an online, lesson-based tool that’s informative and enjoyable. 
 

Point Breeze Credit Union is a full-service financial institution with locations throughout Maryland.