First published: 9 October 2022 @ 6:00 pm
Do Teenagers Need a Financial Adviser?
Teenagers who don’t have any experience with money should definitely get the help of a financial adviser.
Financial planning is something that is crucial to teens, and this is something that you don’t want to mess around with.
Getting a financial adviser should be a priority, especially if you are still in high school. A lot of the information will still be the same, but the values will be different.
So make sure that you understand what your adviser is saying to you, because they will spoke in terms of values rather than in terms of numbers.
Can I Help My Teenager Learn about Money?
You can help your teenager learn about money by giving him or her some pocket money each week and teaching him or her how to save it for the future.
You can also give your teenager some cash for spending on certain things like clothes, etc.
However, make sure that they know the importance of financial independence and never take this money for granted.
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How Much Do Teenagers Need to Save?
To achieve financial security, a teen needs to save enough to support them through their post-secondary education, and to leave a little of money in savings.
This can be done by contributing part of your pre-tax income, or by saving after-tax dollars.
Get a financial planner for your teen as well as yourself. This will ensure that you know how much you should save, and what you need to do to get there.
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