64 | 8 Things High Schoolers Know About Saving Money That You Might Not (All About Saving Money, Debt, Budgeting & Investing)

⁠Book a free 20 minute financial coaching session with us! Recently we taught a group of high school students all about saving money, budgeting, debt & investing. After each lesson, we asked them for their takeaways. Today we're going to bring you their takeaways that you probably should know but may not be practicing. Even if you make more money, don't spend more money Put your emergency fund in a money market When you get a raise, your investments get a raise Don't ever take money out of your investments Put your goals on paper, they are more feasible than you think You can be completely debt-free your entire life Investing is really important In this episode we also cover: How to avoid lifestyle creep Where to put your emergency fund so you can make more than .01% interest How to make your money work for you The difference between a starter emergency fund and the fully funded emergency fund The difference between the checking account, savings account and the money market account when it comes to your emergency fund The compound interest that you’re paying in debt versus earning in investment How to be a good investor (ie. don’t stop / start & never pull from investments) Why writing goals on paper makes a big difference How you can be your own bank How helping your kids learn to save will serve them WAY better than a credit score How building a credit score is NOT what we want to teach our kids How to completely change your kids’ financial future 4 Ways To Connect With Us: 1️⃣ FREE CALL: Book your FREE 20-Minute Financial Coaching Call now! Get personalized advice and start your financial journey ➡︎ https://www.budgetbesties.com/freecall  2️⃣ FACEBOOK: Become part of our Supportive Facebook Group. Connect, share, and learn with others mastering their budget skills ➡︎ https://www.budgetbesties.com/facebook  3️⃣ BUDGET: Grab our Signature Budget Template! It's your key to organizing and optimizing your finances effectively ➡︎ https://budgetbesties.com/budget  4️⃣ COACHING: Ready to dive deep into your finances? Sign up for 1-on-1 or Group Financial Coaching. It’s the accountability and guidance you need to make real progress ➡︎ https://budgetbesties.com/coaching  "I love Shana & Vanessa and this podcast is amazing!" < If that sounds like you, please consider rating and reviewing our show! It helps us to reach more people – just like you – to help them change their financial future. Don’t forget to follow the show so you don’t miss any episodes! And, if you’re feeling really generous, we’d be SO honored if you would share this podcast with someone.  Click here to view our privacy policy. This description may contain affiliate links, meaning we may get a commission at no cost to you if you click & purchase!