I am sixteen years old. What can I do to start building a successful financial future?

L

llamallord

New member
I currently do not have one, but I am in the process of searching for my first job. The jobs at which I am looking are all fast food or grocery team members, so minimum wage, which is $7:05 in my state, is all that I will be making.

I am looking into creating a savings account and depositing half of each weekly paycheck into it. The other half will go into a checking account.

I am a Tennis player, so I was looking into buying a pitching machine for myself. They cost about $1000. Would I be able to get a small loan at my age?

I am a bit of a perfectionist, so I would never allow debt to pile on a credit card.
 
avoid getting a loan, it is not wise, since you will be paying interest.
you only get a loan when you have a business project or investment that will earn more than the interest.

start bulding your savings for emergencies.
 
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