4 smart financial advises for teens in 2015

According to a recent survey, almost 15 -18 years old Britishers score badly. They don’t have any idea to spend money properly on primary and secondary needs. I think American schools should teach every teenager about money management and finance. And teach them what good source is and what is bad, and how it would affect their later life. So assuming all these conditions I thought to suggest some beneficial ideas for teens that would help them out in their future and I hope they will learn greatly for 2015.

1.   Little know how is always better than ignorance:

If you are a teenager then you must know the fact that in this age mostly people are ignorant and somewhat untaught about finances. They spend carelessly and don’t save for future. So it’s very important to get little know how about managing money from their parents and teachers. I met 2 young students who were quite conscious about their finances in teenage. I got amazed and asked them to share the tricks they revealed that they attended a seminar on finance management which was organized by loans knight in which they presented awesome ideas about money management that was quite helpful in the conditions when you don’t have money. So we decided to follow them for enjoying better financial freedom.

2.   Saving should be your top priority:

Those 2 young students further continued and revealed that savings should be your top priority. If you are not a smart saver from teenage, then you will never be a successful consumer in future. I agreed with them because I remember when I was 7 years old, I did not have enough money to buy my favorite video game. So I started saving money and after 3 months successful savings I finally able to buy the game. So savings are very important to reach the goals.

3.   Avoid using credit cards: learn the dark sides

Credit cards are definitely not a good choice for teenagers because it can involve you in heavy interest rates which are beyond your imagination. Many people advise to use credit cards wisely so that you can repay them successfully. But if you will not repay the amount, you will be identified as a bad creditor and it could take years to repay the amount. And you will not be able to lend money from different lending services. But in case if you are imperfect creditor and you urgently need money then you can apply for a bad credit loan with least interest rate and I think that is the only way to save you from upcoming dangers. So I will suggest every teenager to not use credit cards until they enable their self a successful person in life.

4.   Track your expenses:

Another awesome way to manage your finances is to track your expenses. If you don’t know about your cash flows then you could you control your spending? It’s very important to make your budget first and then follow it wisely. It’s also very important to manage your expenses within the decided budget. So that you cannot spend extra money on extra needs.