Financial literacy is basics of money management: budgeting, saving, debt, investing, and giving. Knowing how money works now will lay a foundation for you to build strong money habits today and to help avoid many of the mistakes that lead to lifelong money struggles.
"Never spend your money before you have earned it."-Thomas Jefferson
You and Your Money
It is important to learn how to save money for when you really need it. A piggy bank has been the longtime tradition that parents have used to teach kids how money can be deposited away for safekeeping.
Now that you are a little older, many banks will allow you to open your first savings account under your parents’ supervision. Bank accounts are a great way to learn how to manage money effectively.
When you put your money in a savings account, the bank pays you interest, or extra money. Over time, that interest starts to add up!
Spending Money
While saving is important, you need to learn how to spend money as well. You often see adults swiping a credit card and it is easy to think that with a credit card there is unlimited amount of money to spend. However, whatever you spend on a credit card needs to be paid back and if you can't pay it back within the month, they start charging you interest so in the end, the item you bought on credit will end up costing you a LOT more.
Using a checking account helps you track your money. Learn how to use checks now so you will be ready when you can open a checking account.
"An investment in knowledge pays the best interest." --Benjamin Franklin
Explore the K12 Career Education Navigator
The K12 Career Technical Education (CTE) Navigator helps you explore high school courses and career pathways offered across San Bernardino and Riverside Counties. Browse by industry sector, county, school district, and more to find options that match your interests and career goals and see how these pathways can prepare you for college, certifications, apprenticeships, or the workforce.
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Created with images by nattanan23 - "money coin investment" • geralt - "dollars currency money" • Unknown - "Free photo: Piggy Bank, Savings, Money, Bank - Free Image ..." • TechPhotoGal - "credit card money cash" • nattanan23 - "money finance mortgage"