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How can I be financiallysuccessful in the future?

I am in the 10th grade and I will be 16 this year and I have no clue how to be financially successful in the future,because of this I am honestly scared of the future.

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Rachel’s Answer

Autumn, kudos to you for thinking about this question at such a young age. I think this bodes really well for your future because you're already very cognizant of this. There are multiple books you can read or courses you can take in regards to money management, but I think you'll find experience is likely going to take you the farthest. There are often courses in high-school or finance classes that can help you learn how to balance your checking account and things like that. I think as long as you understand what your budgets are (how much you are able to spend) in certain areas of your life this will get easier. You will start to realize more and more what things cost and how you can reduce your spending in certain areas (making meals at home vs. eating out)...how to spend less on groceries each week and things like that. Feel free to ask people around you for advice in this matter too, and just because someone is giving you advice does not mean you have to take it. Listen and take away what you want or think is most important from these conversations and use them to your advantage.
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Megan’s Answer

Hi Autumn!

Great questions. I want to reassure you that you are not alone in having anxiety about the future. Most students feel this way. The good thing is you are looking to learn more and be better prepared!

I would see if your school has any financial courses you can take. There are also many resources online where you can learn about finances.
Khan Academy which many schools use has one- https://www.khanacademy.org/college-careers-more/personal-finance

Here are some tips I have learned:

Avoid student loan debt- If you want to go to college be smart about student loans. My advice for students is if you have to take out student loans only take out as much as what your starting salary is. Let's say you want to be a nurse. A nursing starting salary is around 50k so your degree should not cost you more than 50k in loans.

Try to attend a college that costs you the least and be smart with other ways to save in college
-buy used books
-become a Resident Advisor (RA) which pays for your dorm and looks good on your resume
- take advantage of student discounts

If you do not know what career you want look into high-demand, high-wage careers
https://explorer.gdol.ga.gov/vosnet/mis/current/hot_careers_current.pdf
https://www.gafutures.org/career-exploration/career-planning/georgia-s-hot-careers/

I hope these tips help!
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Karen’s Answer

Because you are thinking ahead about finances, chances are great that you will be successful. If you haven't already, practice saving part of any income or allowance you might get. If you don't have income, see if you might have something you can sell (used dresses, jewelry, shoes, etc. are usually purchased by thrift shops. Take 10% of your income and put it in a savings account.

Get in the habit of using coupons or discounts when making purchases.

When you have started a career, see if you are eligible for a 401K program and definitely take advantage of that.

With every good wish.
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