Angelina Elliot, Staff Reporter
We are all getting older and having to mature, not just physically but mentally as well. One topic that we should all be educated on is money. Many young people are not educated when it comes to money. When asked if she believes people understand the true value of money, Kylie Heldt, a freshman at Rancho Cucamonga High School, states, “No, not really, especially if they’ve grown up with just getting whatever they want and not having to work for anything.”
As teenagers, many of us tend to spend money without realizing all of the consequences for the ways it can be used. Heldt shared her biggest financial regret, “I bought these Lululemon leggings for $100 because it was ‘cool’ at the time I guess, and then after I bought them I realized all the things I could have bought with that hundred dollars. Like I could have got some things that were just as good for way less.”
We should not just understand the value of money, but also understand how to manage it for the future. An article written by Director of Institutional Asset Management at Ritholtz Wealth Management Ben Carlson in 2017 states, “In particular, younger millennials (ages 18 to 26) are falling victim to vices that may feel good in the moment, but are far from worth it in the long run.”
The article written for the financial website MarketWatch informs readers on many of the things that young people are spending money on that are not really worth it in the future, as we often spend money on clothes, drinks, entertainment, and other things just to show off.
One way that you can save money is by putting it away. Putting your money in an account that is separate from your spending money will add up over time. You can put a set amount into the account or even just store a couple dollars there whenever you want. A different way for you to save money is to just stop wasting it on unnecessary things. Refraining from going out too much or splurging on clothes can help you to save money for items that are actually needed. Make sure when you are spending money that you are thinking of the ways it can benefit you in the future.
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