Setting Your Priorities

Let’s talk financial priorities. We know, talking about money might not be the most exciting topic, but trust us, understanding your finances early on can set you up for a bright future. So let’s break it down and figure out what your financial priorities should be.

First things first, saving. There, we said it! Saving might not sound like the most thrilling thing to do with your hard-earned cash, but it’s super important. Whether you’re saving up for a new a car or college, having money set aside for the future gives you peace of mind and flexibility.

Next up, budgeting. Yes, that means keeping track of how much money you’re bringing in and where it’s going. Creating a budget might sound daunting, but trust us, it’s a going to make a huge difference for you financially. Divvy up money for essentials like food, transportation, and savings, and then portion out the rest for things like entertainment and shopping.

Now, debt. Even teens can fall into the debt trap if they’re not careful. Whether it’s racking up credit card debt or taking out loans for things you can’t afford, debt can seriously cramp your style. So, make it a priority to avoid debt whenever possible and pay off any you already have as quickly as you can.

And finally: investing in yourself. We specifically mean things like education and career development. Whether it’s saving up for college, investing in a certification program, or even just buying books to expand your knowledge, investing in yourself is one of the best investments you can make.

So there you have it—your financial priorities laid out plain and simple. By saving, budgeting, avoiding debt, and investing in yourself, you’ll be well on your way to financial success, whatever that looks like for you!

Stay Savvy!

 

Celia Otero is a Jeanne D’Arc Financial Wellness Specialist. She’s dedicated to promoting financial education and literacy and strives to ensure that individuals have the tools they need to navigate the complexities of personal finance. With a background in early education and adult learning, Celia believes that by empowering individuals through education they will learn to develop strong habits, make informed choices, and achieve financial well-being. You can find out more about Celia and the rest of the Financial Wellness team here.