Saving money as a teen will set you up for success.
This article suggests that Millennials or 20-somethings should start saving as soon as possible. We agree and take it further to suggest teenagers and younger should start saving as soon as possible. Start saving with your allowance or first job, even if you’re washing dishes. The sooner the better because, as studies suggest, the earlier you start saving the greater the likelihood of financial success.
“If I look at my clients, the ones who have the most money today in retirement, it’s not the people who earned the most,” Ken Waltzer, a certified financial planner and president of Kenfield Capital Strategies, said, noting one of his clients is a schoolteacher with more than $1 million in the bank. “It’s the people who saved the most.”
Always spend less than you make, regardless of age, and you’ll set yourself up for financial success.