At Stevenson, money can disappear fast. For some, between Chipotle runs after school, filling up the car, saving up for the next vacation, or anything and everything students have to spend on, it’s easy to overspend without realizing it. The good news? High school is the best time to start learning how to handle money. Whether you want more freedom now or you’re planning ahead for college, knowing how to earn, save, and spend your money smartly can make a huge difference. But how does one go about enhancing their knowledge of finances in high school?

The best way is from a part time job. According to the Bureau of Labor Statistics, approximately 20 to 30 percent of high schoolers have a part-time job during the school year . Popular spots locally include park districts, local restaurants like Culvers, or different tutoring companies such as Kumon. 

However, not everyone can commit to work during sports or clubs. In such a case, gig work is often the best alternative. Gig work may include lawn mowing, snow shoveling in the winter, or dog walking are great options. Some creative work may include students flipping clothes, sneakers, or collectibles online.

Although underestimated, such work can instill within students the ability to understand the importance of each dollar earned. This understanding equips them with sustainable spending habits. Alongside this, students may begin to understand how to manage funds when they hit their bank accounts, learning much more than creative skillsets these jobs may require. 

Especially early on, saving money is most important. In fact, Investing a single, $100 amount in the S&P 500 at age 18 and leaving it untouched until age 65 would result in a growth of roughly $2,300 to $2,500.

It’s tempting to spend everything right away, but saving gives you freedom later. Want a car senior year? Need spending money for college visits? That’s where savings come in. 

With the help of parents, students can open a student-friendly savings account without fees. Try the 50/30/20 method for saving money: spending 50 percent of your money on needs, spending 30 percent on wants, and saving 20 percent of money. Short-term saving is for everyday items such as gas, food, or a new hoodie. Long-term saving is for bigger goals like college, a car, or even a spring break trip senior year. Set a weekly budget for things like food and shopping. 

Apps like Mint or Notes make it simple to track. Once you hit your weekly limit, stop spending until the next week. You can even consider carpooling with friends to school or activities to save gas. It’s the little things that really add up.

In essence, It is important to build responsibility fast and to avoid impulse spending. If you want something expensive, wait a week before buying. This technique can help you ensure you are making an informed decision when the time to make the purchase arrives  

Especially in the age of credit cards, teenagers can often be found making irresponsible decisions. In fact, even including adults credit card delinquencies have spiked to close to 3 percent according to the St. Louis federal reserve. In the backdrop of such binge spending and increasing delinquency rates on credit cards, the need for financial responsibility is needed now more than ever.

But at Stevenson, life gets busy because of all the classes and extracurricular activities. If you learn how to make money, save it, and spend it wisely, you’ll set yourself up for more freedom both now and after graduation. Start small: grab a part-time job, open a savings account, or set a weekly budget for food. Regardless, all it takes is a willingness to learn, throw yourself into the subject, and put time and effort to ensure a better future for yourself. Whether you plan on becoming a doctor, magician, or athlete, finances affect everyone. Your future self will thank you.