One subject that’s often overlooked in high school is managing finances. You emerge from high school as an adult who has no concept of saving or planning for the future. Managing money is a skill, and most people lack the knowledge to perfect these skills. Take a look at the basics in the economic world so that you can manage money like a professional.
Create a Budget
Before you spend any money as an adult, create a simple budget. Line items might include rent, utilities, and food. Everyone has a slightly different budget based on their income and financial responsibilities. Follow the guideline of spending less than you make. With this strategy in mind, you’ll never have money problems.
Save Up 10 Percent
Part of your budget must go toward savings. Accumulating about 10 percent of your income each month gives you a financial buffer in case of an emergency. …