Set up automatic payments so they are initiated on your end, so that you send out money to the bill/ company you’re paying instead of giving them access to take money out of your account.
Start saving for retirement with your very first paycheck. Put away the MAX, you’ll never miss it. If the company doesn’t offer 401k then we’ll open a Roth IRA.
***Manners!! *** Etiquette is the secret sauce. Everyone appreciates being treated with respect. Etiquette is the art and science of respecting others. It’s timeless and universal. Customs change, hence the need for constant study, but respect is always the foundation. In summary: Be nice. Start with yourself. Study etiquette. It will help you in every single interaction you have, social, professional, financial, everything. Manners apply to every human, in every interaction, even on the hard days. Hence, the need for practice.
Check out from the library or Amazon: “My First Money Book: A Guide for Parents and Children to Saving, Spending, Sharing, and Investing Your Money” by Reggie Nelson
IMPORTANT: If you borrow money from someone pay it back as soon as possible. In full. If you borrow an item, return it in excellent condition. I’d say if you borrow a car, return it with a full tank of gas but hopefully by the time you’re driving there won’t be any combustible engines. So return it fully charged!
Failed?
Lift yourself up, or live there.
You know the work you need to do, be it physical, mental, emotional or spiritual, etc. So do it. Do the work.
The only bitterness in failure comes from not having the guts to get back up again.
It’s fine, great, to be thrifty. But please don’t be cheap. Hard-earned money should neither be squandered or hoarded. Enjoy your success! But save more than you’re comfortable with. It’s like my running coach used to say: Keep going until you feel like you’re gonna poop your pants, then push yourself to do another mile. Point is, it should hurt a little.
Start a yearly “review” right before school year. Raise allowance as appropriate. If they want more money, they’ll have to take on more responsibilities.
There’s always a temptation to throw money at your problem. But remember there’s nothing you can buy that will make up for what is really needed. And the stuff that accumulates while you try to fix the problem just ends up being a problem on its own.
Have a yearly “review” right before school year. Raise allowance as appropriate. If they want more money, they’ll have to take on more responsibilities.
Start saving money early. Save as much as you can.
There are plenty of things worth spending your money on, but be mindful about your money - Don’t p*ss it away.