Financial tips for high school seniors


Ben Kiewel

2019 seniors and their grad party invites hanging on Nelson’s wall. Soon they will all be enjoying their new independence.

It’s March and everyone is counting down until that last day of school. Many are looking forward to walking out those school doors on the first day of summer break. For seniors, their last steps in this high school are also some of their first towards adulthood.

This new freedom for the seniors will come with a bunch of responsibilities. Among those, seniors will find themselves trying to manage their financial life. Knowing how to manage your money can be difficult for some and simple for others. Here’s a quick list to help you get started.

  1. Set Up A Budget – Start by tracking and listing your expenses. Include everything from insurance to money spent going out with friends. Next, add your income and make sure you are in the green. If you are in the red or want to save more, look at your expenses and start removing the unnecessary parts. A common spot where your money is wasted is your subscription services.
  2. Start Building Good Credit – A good credit score is necessary for getting loans in the future. You can work on getting a good credit score in a few ways. The easiest of which being you could get a credit card. Be careful and pay your balance before you get into debt, if you don’t, your credit score will only go down. You could also start a loan, although you would probably need someone to co-sign and again you have to make sure to make your payments on time.
  3.  Start Saving – Above all start saving more money, even if there isn’t anything you want to save up for and buy right now it is always nice to have some emergency cash. This is especially important for college students. Remember, you’ll be a full-time student with who will also be financially independent.
  4. Start Investing – A great place to store the money you are saving is through investments. You’ll tend to make more money than keeping your money in a bank with tiny interest. If you are careful and wise when investing, you will see a very high return wait. There are also tons of tools for those looking to dip their toes into stocks, including Acorn and Robinhood
  5. Start Planning Your Career Plan – As a high school senior you are finally entering the bold world of independence and it is finally time for you to start paving your own path. Where ever your path is leading you, make sure it is a solid career that you’ll enjoy and be successful in.

These are just a few tips but the internet is full of more in-depth financial tips for the novice and expert alike. If you are looking for more there are resources everywhere. As your last year winds down to its last month, start thinking about the weight of independence and prepare for it. It is better to walk into freedom prepared than be thrown into it lost and confused.