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Home > NEED YOUR HELP - Writing A High School Money Book - Part 2

NEED YOUR HELP - Writing A High School Money Book - Part 2

May 21st, 2009 at 01:45 pm

I announced http://iwasbroke.savingadvice.com/2009/05/20/need-your-help-... that I am in the process of writing my next book. It will be a book that is addressed to high school students, and I am sharing 12 Things I Wish I Had Learned About Money Before I Hit The Real World.

That is not necessarily the title, and it might end up being 10 things or 15 things. All I know is that I want (and need) your help in writing this book!

For the next few days, I am going to ask you to take a couple minutes of your time and share some things you wish you would have learned about specific money topics.

Planning Your Spending

Here is the question that I want to hear your thoughts on today:

What do you wish you would have known about planning your spending by the time you graduated high school?

Share your stories in the comment section!

5 Responses to “NEED YOUR HELP - Writing A High School Money Book - Part 2”

  1. gamecock43 Says:

    How many hours you have to work for each item you buy. I DID know this and it helped keep me debt free. Most HS students earn $7.00 hr then tax taken out...they need to think of that hourly number when debating to buy a $200 cell phone. Not their bi weekly $600 paycheck.

  2. lartiga Says:

    "What do you wish you would have known about planning your spending by the time you graduated high school?"

    I wish someone had talked about planning our savings not just our spending. Maybe in planning their "spending" kids need to think about savings as a "bill" so that as they spend their paychecks, something is going to savings.

    I also think it is too easy for students to get credit cards, or at least is used to be. Students need to have a plan for paying off anything purchased on a credit card or, better yet, avoid using CCs altogether. Don't spend money on an item unless you already have the money saved. A car might be the exception, but they need to take into account all aspects of auto ownership: payment, insurance, gas, maintenance, etc. What does it really cost to drive a car?

  3. denaf Says:

    Something I do with my kids that I wish my parents would have done with me is getting them to sit down with me while I pay the bills. They can look at those credit card and loan bills and realize how much of a payment is going to interest. It also helps me do a better job on paying off debt. I wouldn't want him to look at me and think I am stupid for not getting this debt paid off.

  4. lizajane Says:

    How NOT to fall into the trap of buying something because it's "only $xxx per month". In the end, the cost of interest will far exceed the value of the item, in most cases. I hate when I see ads for rent to own places that advertise just $15 per week for 6 months and in the end you paid $360 for something that would have only cost $200 if you'd been able to pay cash for it. I might be exaggerating, but you get the idea.

  5. wishIknewbetter Says:

    I wish I knew a lot of things about money before graduating high school. But, I guess the most important thing was how to save for the future both short and long term. If I had saved a down payment for a house...I wouldn't have had to finance the entire cost. And if I had started a retirement account at 18, I'd have nearly 10 years of compounded interest working for me, rather than three.

    Compounded interest! That is one VERY important lesson.

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