Looking for the best business ideas for teens? Whether you’re a teenager trying to find ways to make extra money or if you’re a parent trying to help your child start a business to learn about money, there are many positives of starting your own business young. Whether it’s in the summer, after school, or…
Looking for the best business ideas for teens?
Whether you’re a teenager trying to find ways to make extra money or if you’re a parent trying to help your child start a business to learn about money, there are many positives of starting your own business young.
Whether it’s in the summer, after school, or on weekends, having a small business can be a fun and educational thing to start.
I did many different things as a teen to make extra money, and they all taught me so much. There are many different ways for teens to make money, as you will learn below.
Best Business Ideas for Teens
There are many business ideas for teens listed below. If you want to skip the list, here are some ways for teens to make money that you may want to start learning more about first:
Below are the best small business ideas for teenagers to start.
Recommended reading:
1. Babysitting
Babysitting is an obvious job for teenagers, and it can be a great way to make money. I was a babysitter when I was a teenager and regularly earned over $1,000 a month by babysitting (mainly in the summer).
Starting a babysitting business is a smart choice for teens as it’s simple to start with very few costs. Your main investment is the time and effort you spend taking care of children.
To get started, you’ll need to let people know you’re available. Reach out to your parents’ friends, neighbors, or family members. After a while, word of mouth can help you find more jobs.
Safety is really important too, of course. So, you will most likely want to get certified in first aid or CPR. This not only makes you more trustworthy but also helps you handle emergencies.
2. Car washing services
Starting a car washing business can be a great business for a teen entrepreneur.
To start, you just need basic supplies: a bucket, a soft sponge, window cleaner, and cloths for drying and polishing.
With a straightforward service like car washing, you can operate right in your driveway or travel to clients’ homes for convenience.
3. Start a blog
Starting a blog is a great way for you to share your thoughts and ideas while potentially earning money. Your blog can cover any topic you’re passionate about, whether it’s fashion, sports, technology, or your daily experiences.
While I was around 21 years old when I started my blog, I know a few people who started theirs as teenagers.
A blog can be a great business idea to start when you’re young, as you can decide how to build your blog, how you earn an income, and the schedule you put toward it.
You can easily learn how to start a blog with my free How To Create a Blog Course.
Here’s a quick outline of what you will learn:
Day 1: Why you should start a blog today
Day 2: What topic to blog about
Day 3: Tutorial on how to start a blog on WordPress
Day 4: How to make money with your blog
Day 5: How to make passive income on your blog
Day 6: How to get pageviews to your blog
Day 7: Tips to see success with your blog
Out of all of these business ideas for teens, blogging is by far my favorite. It does take more time to start making money, but it’s very flexible and fits with any kind of schedule.
4. Tutoring and teaching
If you’re a teen who’s really good at a certain subject, tutoring could be a great way to start a rewarding business. You can use your knowledge to help others do well in areas you’re good at.
Your friends or younger students might find it helpful to have one-on-one sessions where you explain difficult topics in simple ways.
Subjects you may be able to tutor in include:
Math
Science
Foreign languages
English
Many tutors are teenagers, so this may be a great fit for you!
5. Photography
If you love capturing moments through a lens, starting a photography business could be a perfect fit for you.
Starting a business as a photographer can kick off with a relatively low investment. Initially, you might need to spend between $500 to $2,000 on equipment like a good camera, lenses, and editing software. But, if you already have a camera, then that is the bulk of the cost.
You can take pictures at events like birthdays or graduations, capture stunning portraits, or create art through landscape and wildlife photography.
6. Home care services in your neighborhood
When you start a home care services business, you’re stepping into a role that helps busy homeowners manage their households.
This can include a range of services that assist with the upkeep of a home, such as:
Housecleaning – You can offer to dust, vacuum, and clean the different areas of a home. People always appreciate coming back to a sparkling clean space.
Laundry – Washing, drying, and folding clothes are tasks that many would gladly outsource to you. Organizing wardrobes or ironing clothes can be added services.
Plant care – Have a green thumb? Offer to water plants, prune leaves, and take care of any garden needs.
Raking leaves – Raking leaves is a good business idea for teens, especially during the fall. Trees drop their leaves and many homeowners need help gathering and disposing of them.
Errand runner – As an errand runner, you’ll help people in your community with tasks they might not have time for, like grocery shopping, picking up prescriptions, or mailing packages.
When I was a teen, I had a friend who was a personal assistant for someone in her neighborhood. She would pick up their dry cleaning, take care of their plants, walk their dogs, and more.
7. Pet care (pet sitting and dog walking)
If you’re a teen who loves animals, starting a pet care business can be a great way to earn some extra cash. Pet sitting and dog walking services are in high demand and can be both fun and rewarding.
To start, you can join a dog walking app-based service. Rover is a user-friendly option that connects you with pet owners. You can create a profile, set your own prices, and specify the types of services you feel comfortable providing, such as dog walking or pet sitting.
You can typically earn between $15 and $30 for each hour spent with a pet, considering you might need to commute to the pet’s location.
8. Graphic design
If you’re interested in art and technology, you can start a graphic design business.
Graphic design is about creating visual content for companies and individuals. You’ll use software to make logos, social media graphics, posters, and much more.
As a teen graphic designer, your income will vary. Typically, you can make anywhere from $5 to $100 per project when starting. As your skills grow, so can your rates. The market for design work is expanding, making room for you to succeed.
9. Music and art lessons
Can you play piano, guitar, or violin? Or maybe you’re skilled in drawing or painting?
If you’re a teen with a talent for music or art, teaching art or music lessons can be a great business idea. Whether you play an instrument or paint like a pro, other kids and parents might pay for your expertise.
10. Sell handmade goods and crafts
If you like being creative and making things with your hands, selling arts and crafts can be a great business idea for teens.
Here are some crafts that teens can create and sell for extra money:
Jewelry – You can make necklaces and bracelets.
Homemade candles – Candles are simple to make and can be sold to people who like to add a cozy feel to their homes.
Paintings – If you like to paint or draw, you can create artwork to sell.
Slime – Slime is really popular and fun to play with. Teens can make and sell their own slime in different colors and maybe even add things like glitter to make it unique.
Soap – Homemade soap is always nice to have, and people love to buy it.
Stickers – Everyone loves stickers and this can be a fun way to make extra money on Etsy or in person.
You may be able to sell your homemade items at local craft fairs or online on Etsy.
Recommended reading: 16 Best Things To Sell On Etsy To Make Money
11. Providing technical support
If you’re good with technology, starting a technical support service can be a choice to look into. Lots of people have trouble with technology and need help. As a teen, you can meet this demand by selling your tech-savvy skills and knowledge.
Services you can sell include:
Software installation and updates
Virus and malware removal
Hardware troubleshooting
Help with using different programs and apps
You can market your business by telling your friends, family, and neighbors about your services, and even by creating flyers to distribute and post on local community boards and at local businesses.
12. Start a YouTube channel
Making a YouTube channel is a way for you to share what you love, your talents, and your ideas with the world. It can also become a fun way to earn some money.
Most people know about YouTube, and almost everyone has seen at least one video on the platform. According to YouTube, there are over 2 billion people who watch at least one video on YouTube every month.
Many people have goals of starting a YouTube channel and making money, but not many people ever actually start.
You can learn more at How I Grew From 0 Subscribers To Over $100,000 On YouTube In Less Than One Year.
13. Design and sell print-on-demand products
Starting a print-on-demand business lets you be creative and make money. You can make products that are inexpensive to create, such as posters or custom-designed mugs.
To begin, design things that show your interests or what customers like. After that, use a service like Printful to put these designs on different products. The company takes care of everything else, from printing to shipping.
14. Lawn care business
Starting a lawn mowing business is a great way for teens to make money and is one of the popular small business ideas for teens. It’s easy to get started, and you can make cash during spring and summer (or even year-round depending on where you live, like Florida, Texas, Arizona, and California).
All you need is a lawn mower, some fuel, and basic gardening tools.
You can talk to neighbors, family, and friends to find new lawn mowing jobs.
I know many families with teenagers who mow lawns to make money. Some even turn it into a full-time business as they grow up.
15. House sitting
For teenagers, starting a house sitting business is a smart way to make money. You’re responsible for looking after someone’s home while they’re away, which is a big job.
Trust is important due to this, and homeowners must feel sure that their property and pets are safe in your care.
When I was a teen, I had a friend who was a regular house sitter for several people. She would water their plants, walk their dogs, and stay overnight in their homes to make sure everything was fine with the house.
16. Sell printables on Etsy
If you want to earn money from home and be your own boss with low startup costs, creating printables could be a great option for you.
A printable is a digital product that can be downloaded and printed at home. You create them once and then sell them on a platform like Etsy for people to purchase. You don’t have to physically print anything; you’re just selling the digital download.
Printables include things like grocery shopping checklists, weekly meal plans that people can put on their fridges, gift tags, and quotes to be framed. These are digital products that users can download and print for their use.
Making money at home as a teenager through creating printables is great because you create one digital file download for each product, and then you can sell them an unlimited number of times.
I recommend reading about this further at How I Make Money Selling Printables On Etsy.
Important note: To sell on Etsy, you need to be at least 18 years old. If you’re between 13 and 17, you can still sell on Etsy with the proper permission and under the direct supervision of your parent or legal guardian. The Etsy account should be registered using the parent or legal guardian’s information.
17. Social media influencer
If you enjoy being in front of the camera and are good at connecting with people, you could possibly make money as a social media influencer.
This can include platforms such as TikTok, Instagram, and more.
Now, this is not a guaranteed way to make extra money as a teen, as not everyone makes it. But, you won’t know unless you give it a try.
It’s all about your image and your message (and some luck too, of course). Ask yourself, what are you passionate about? Fashion? Gaming? Fitness?
You’ll want to keep your posts consistent (for many platforms, this will include posting at least once a day) and your voice authentic. This is how you’ll attract followers who can’t wait to see what you post next.
You’ll also want to interact with your audience. Reply to comments, ask questions, and listen to what they want. An engaged audience is a loyal one, and brands notice this. The more you connect, the more your followers trust you.
As your following grows, companies might pay you to talk about their products. That’s because they see value in your ability to reach and engage with a dedicated audience.
You can learn more at How I Make Money On TikTok – How I Grew To 350,000 Followers and Made $60,000 In 6 Weeks.
18. Videography
If you love making videos, starting a videography business could be a perfect idea for you. As a young entrepreneur, you can begin this business idea with just a smartphone or a basic camera.
You can start this small business idea by practicing filming different events like school activities or community gatherings. This will help you to create a portfolio that highlights your unique style and skills.
19. Streaming
If you like playing video games and have a fun personality, you may be able to make money streaming. With platforms like Twitch, you can create a channel where you showcase your gaming skills or entertain an audience with your commentary.
Once you gather a following, you can monetize your channel through subscriptions, ads, sponsorships, and donations. Selling branded merchandise is another way to earn money.
Recommended reading: How Much Do Twitch Streamers Make?
20. Baking
If you love making treats that leave your friends and family asking for more, starting a baking business could be your path to success.
You could bake things like cookies, cakes, bread, and more.
Before selling, make sure you understand the legal requirements, such as if you need a permit or license.
21. Proofreader
A proofreader is someone who reads through written stuff like articles, books, or ads to find and fix any mistakes. Your job is to make sure everything’s correct before people see it.
If you love reading and often spot mistakes in written content, you might want to explore becoming a proofreader.
Freelance proofreading is a flexible and detail-oriented job that only requires a laptop or tablet, an internet connection, grammar skills, and a good eye for finding mistakes.
If you want to find online proofreading jobs, I recommend watching this free 76-minute workshop all about how to get started proofreading.
Recommended reading: 20 Best Online Proofreading Jobs For Beginners (Earn $40,000+ A Year).
22. Buy and sell flipper
Reselling items online on platforms like Craigslist, eBay, or Facebook Marketplace can be a great way to run your own business and make extra money.
Plus, it’s something that anyone can start because many of us own things that we could probably sell.
And, there are always things you can buy for a low price and potentially resell for a profit. You might even find free items that people are throwing away and sell those too.
There is a helpful free webinar that I recommend – Turn Your Passion For Visiting Thrift Stores, Yard Sales & Flea Markets Into A Profitable Reselling Business In As Little As 14 Days.
23. Answer online surveys
Okay, so this isn’t a business, but it is a way to make money online.
Taking surveys won’t make you rich, but it can help you earn a bit of extra money during your spare minutes throughout the day.
Companies pay you to take surveys because they want to know what people think about their product and their company. They want real opinions from real people.
Here are some of the survey companies that are open to teenagers (along with their minimum age requirements):
American Consumer Opinion – Age minimum – 14 years old
Survey Junkie – Age minimum – 12 years old
Branded Surveys – Age minimum – 16 years old
Swagbucks – Age minimum – 13 years old
InboxDollars – Age minimum – 12 years old
User Interviews – Age minimum – 16 years old
Things To Think About as a Teen Entrepreneur
As a teen wanting to start a business, it’s important to think about things like balancing schoolwork, managing finances, and making sure that you are staying safe.
Balancing school and business
Your school schedule is a priority, and finding a balance between it and your new business venture is important, so it’s important to plan out your week.
I recommend creating a visual where you can see your school time, study hours, and time for your business.
Example of a weekly schedule:
Day
School Hours
Study Time
Business Hours
Free Time
Monday
8 a.m. – 3 p.m.
4 – 6 p.m.
7 – 9 p.m.
Remaining
Tuesday
8 a.m. – 3 p.m.
4 – 6 p.m.
7 – 9 p.m.
Remaining
…
…
…
…
…
Sunday
None
Optional
Flexible
Flexible
Financial planning
It’s important to understand the basics of financial planning when it comes to your business so that you can make sure you are making money and not wasting money.
So, I recommend listing the resources and materials you’ll need along with their costs. This also includes keeping track of all your expenses and income using a spreadsheet or even just writing your expenses down.
Working safely
You should always be safe, and make sure not to fall for any scams or fall into business with someone that you do not want to. Keep parents up-to-date on what is going on in your business and make sure to meet strangers in public/safe places.
Frequently Asked Questions
Below are answers to common questions about starting a business as a teen.
What are some easy-to-start business ideas for high school students?
If you’re in high school and want to start a business, you can sell services like lawn care, dog walking, or car washing. These types of businesses require minimal money from you to get started and can be managed around your school schedule.
What are the business ideas for teens online?
For online business ideas for teens, there are many things you could do such as selling printables, starting a blog, online tutoring, selling handmade crafts on Etsy, and more.
What are the top business ideas for young adults?
The top business ideas for young adults include babysitting, car washing, lawn mowing, online tutoring, and starting a YouTube channel.
What types of businesses are suitable for 13 to 17-year-olds?
Teens between 13 and 17 can look into babysitting, pet sitting, tutoring, or crafting and selling homemade goods.
Business Ideas for Teens – Summary
I hope you enjoyed this article on the best business ideas for teens.
Starting a business when you’re a teenager can be fun and help you make some extra money. This can help you to save money for college, buy things that you want, hang out with your friends, buy clothing, and more.
Plus, it’s a chance to learn important skills and a good work ethic.
You can do different things to earn cash, like doing chores at home or trying out creative online projects. If you enjoy outdoor work, you can wash cars or take care of lawns. If you’re into technology, you might want to start a blog or a YouTube channel.
There are lots of options depending on what you like and what you’re good at!
What other business ideas for teens would you add to this list?
If you see a mandala, you’ve entered the barracks of a millennial. To understand this trend, you have to remember that being a “hipster” was the standard for millennials when we were teenagers or super young adults in the 2010s. If you wanted to be cool, you had to decorate your room or apartment like you played mandolin in a folk band. I also blame Tumblr for this aesthetic. The tapestry, hanging bulb lights, and strung-up Polaroids just meant you had a loooong night of reblogging ahead of you. If you know, you know…and you deserve some kind of emotional compensation for that.
The information provided on this website does not, and is not intended to, act as legal, financial or credit advice. See Lexington Law’s editorial disclosure for more information.
Becoming an authorized user on an open credit account, paying down student loans and securing credit builder loans can help young adults build credit.
Learning how to build credit at 18 can pay dividends throughout your life and help you explain financial concepts to others. Length of credit history is one of many factors that impact your overall credit score, so building credit early on can make it easier to secure credit cards and loans in the future.
Here, you can learn how to build credit at 18 and better understand which factors influence your credit health. You can also discover how Lexington Law Firm can help you improve your financial literacy.
Key takeaways:
You don’t have a credit score until you take actions that are reported to credit bureaus.
Length of credit history makes up 15 percent of your FICO® credit score.
Paying down student loans will positively affect your credit over time.
Table of contents:
1. Learn what credit score you start with
Starting credit scores vary from person to person and are largely based on each individual’s financial habits. When you first secure a loan, a credit card or a line of credit, your credit habits during the following six months will determine your starting score. Afterward, your credit score can increase or decrease based on several factors.
Who provides credit scores?
Credit reporting bureaus keep track of your credit history and provide reports based on your financial habits. Equifax®, Experian® and TransUnion® are the three main credit bureaus you can request a credit report from. Your credit score will be based on the information found in your credit report.
The law requires each bureau to provide at least one free report each year. Checking one of your credit reports every few months throughout the year can help you track your credit habits and progress.
2. Become an authorized user on a credit card
Just like other adults, young adults can become authorized users on another person’s credit card with the cardholder’s permission. With this method, an individual without any credit history can make purchases with a credit card and gradually build credit.
The caveat to this method is that all activity with a credit card will affect everyone connected to it. If a young adult gains access to one of their parents’ credit cards, the child’s activity will increase or decrease their parent’s credit score as well as their own.
3. Apply for a student loan
As previously mentioned, length of credit history can positively impact your credit score. For many young adults, a student loan will be their first credit account until they can acquire a credit card.
Paying off your loan might temporarily cause your score to dip, as your oldest account will be closed. However, regularly making timely payments will benefit your overall credit score far more than this dip will hurt it.
4. Secure a credit builder loan
Credit builder loans are helpful options for individuals with no credit history and people looking to repair their credit. These loans often have flexible requirements for applicants, though they typically have higher-than-average interest rates and brief repayment terms.
Community banks, credit unions and online lenders offer various credit builder loans. Large commercial banks don’t usually offer these loans, as their small payout amounts (normally $300 – $1,000) aren’t helpful to their everyday operations.
5. Frequently review your credit report
Challenging an error on your credit report and getting it removed can be an effective way to improve your credit. To discover these issues, it helps to routinely check your credit reports throughout the year.
Equifax, Experian and TransUnion all accept challenges by phone or online, and Lexington Law Firm can also help you challenge any errors on your report. Explore our services and see what features our tiered plans provide.
6. Space out your credit card applications
Every time you apply for credit, a hard inquiry occurs. This means that a third party (i.e., the bank offering the credit card you applied for) asked to review your credit report. Hard inquiries can appear on your report for years, but they’ll generally only hurt your credit for 12 months.
Issues can arise if you apply for too many credit cards or other lines of credit in a short period. Those dings against your credit can mount and damage your credit. On the other hand, spacing out your applications can help keep your credit healthy and stable.
7. Manage your credit utilization ratio
Your credit utilization measures your current account balances against your total credit limit. The higher your utilization is, the more negatively it will affect your credit. Ideally, it’s best to keep your utilization below 30 percent, or even 10 percent if possible.
Here’s an example to help visualize credit utilization. If you have a total credit limit of $5,000 and you’re currently using $500 of your available credit, your credit utilization will be 10 percent.
8. Use a credit monitoring service
Credit monitoring simply refers to reviewing credit reports and making decisions based on that information, whether you see inaccurate information that needs to be fixed, or accurate information that shows you where you can improve your credit usage. People can do this process themselves or seek out a credit monitoring service for help. Institutions like banks, credit unions and the three credit bureaus all provide distinct credit monitoring services.
Learn to manage credit with Lexington Law Firm
Young adults looking to build and manage their credit have many resources at their disposal. Still, professional advice from individuals with years of experience can make a big difference. Lexington Law Firm can provide a free credit assessment to help you get a sense of where your credit is starting and where you may want to go from here.
Note: Articles have only been reviewed by the indicated attorney, not written by them. The information provided on this website does not, and is not intended to, act as legal, financial or credit advice; instead, it is for general informational purposes only. Use of, and access to, this website or any of the links or resources contained within the site do not create an attorney-client or fiduciary relationship between the reader, user, or browser and website owner, authors, reviewers, contributors, contributing firms, or their respective agents or employers.
Reviewed By
Brittany Sifontes
Attorney
Prior to joining Lexington, Brittany practiced a mix of criminal law and family law.
Brittany began her legal career at the Maricopa County Public Defender’s Office, and then moved into private practice. Brittany represented clients with charges ranging from drug sales, to sexual related offenses, to homicides. Brittany appeared in several hundred criminal court hearings, including felony and misdemeanor trials, evidentiary hearings, and pretrial hearings. In addition to criminal cases, Brittany also represented persons and families in a variety of family court matters including dissolution of marriage, legal separation, child support, paternity, parenting time, legal decision-making (formerly “custody”), spousal maintenance, modifications and enforcement of existing orders, relocation, and orders of protection. As a result, Brittany has extensive courtroom experience. Brittany attended the University of Colorado at Boulder for her undergraduate degree and attended Arizona Summit Law School for her law degree. At Arizona Summit Law school, Brittany graduated Summa Cum Laude and ranked 11th in her graduating class.
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Home » Credit » 6 Ways to Help Your Child Build Credit During College
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College students have a lot on their plate already, including the need to study to get good grades, participating in any number of on-campus activities and potentially working part-time to have some spending money.
That said, college students should also focus on their financial future, including steps they can take to build credit before they enter the workforce.
After all, having a credit history and a good credit score can mean being able to rent an apartment, finance a car or take out a loan, whereas having no credit at all can mean sitting on the sidelines until the situation changes.
Fortunately, there are all kinds of ways for young adults to build credit while they’re still in school. Some strategies require a little work on their part, but many are hands-off tasks that you only have to do once.
Teach Them Credit-Building Basics
Make sure your student knows the basic cornerstones of credit building, including the factors that are used to determine credit scores. While factors like new credit, length of credit history and credit mix will play a role in their credit later on, the two most important issues for credit newcomers to focus on include payment history and credit utilization.
Payment history makes up 35% of FICO scores and credit utilization ratio makes up 30% of scores.
Generally speaking, college students and everyone else can score well in these categories by making all bill payments on time and keeping debt levels low. How low?
Most experts recommend keeping credit utilization below 30% at a maximum and below 10% for the best possible results. This means trying to owe less than $300 for every $1,000 in available credit limits at a maximum, but preferably less than $100 for every $1,000 in credit limits.
Add Your Child as an Authorized User
One step you can personally take to help a child build credit is adding them to your credit card account as an authorized user. This means they will get a credit card in their name and access to your spending limit, but you are legally responsible for any charges they make. Obviously, this move works best when you have excellent credit and a strong history of on-time payments and you plan to continue using credit responsibly .
While this step can be risky if you’re worried your college student will use their card to overspend, you don’t actually have to give them their physical authorized user credit card.
In fact, they can get credit for your on-time payments whether they have access to a card or not. If you do decide to give them their credit card, you can do so with the agreement they can only use it for emergency expenses.
Encourage Them to Get a Secured Credit Card
Your child can build credit faster if they apply for a credit card and get approved for one on their own, yet this can be difficult for students who have no credit history. That said, secured credit cards require a refundable cash deposit as collateral are very easy to get approved for.
Some secured credit cards like the Ambition Card by College Ave even offer cash back1 on every purchase and don’t charge interest2. If your child opts to start building credit with a secured credit card, make sure they understand the best ways to build credit quickly — keeping credit utilization low and paying bills early or on time each month.
Opt for a Student Credit Card Instead
While secured credit cards are a good option for students with little to no credit get started on their journey to good credit, there are also credit cards specifically designed for college students. Student credit cards are unsecured cards, meaning they don’t require an upfront cash deposit as collateral, but charge interest on any purchases not paid in full each month.
Many student credit cards offer rewards for spending with no annual fee required as well, although these cards do tend to come with a high APR. The key to getting the most out of a student credit card is having your dependent use it only for purchases they can afford and paying off the balance in its entirety each billing cycle. After all, sky high interest rates don’t really matter when you never carry a balance from one month to the next.
Student Credit Cards…
“One of the safest ways for college student to build their credit by learning valuable money skills.”
Help Your Child Get Credit for Other Bill Payments
While secured cards and student credit cards help young adults build credit with each bill payment they make, other payments they’re making can also help.
In fact, using an app like Experian Boost can help them get credit for utility bills they’re paying, subscriptions they pay for and even rent payments they’re making. This app is also free to use, and you only have to set up most bill payments in the app once to have them reported to the credit bureaus.
There are also rent-specific apps and tools students can use to get credit for rent payments, although they come with fees. Examples include websites like Rental Kharma and RentReporters.
Make Interest-Only Payments On Student Loans
The Fair Isaac Corporation (FICO) also notes that students can start building credit with their student loans during school, even if they’re not officially required to make payments until six months after graduation with federal student loans.
Their advice is to make interest-only payments on federal student loans along with payments on any private student loans they have during college in order to start having those payments reported to the credit bureaus as soon as possible.
“Making interest-only payments as a student will not only positively affect your credit history but will also keep the interest from capitalizing and adding to your student loan balance,” the agency writes.
Of course, interest capitalization on loans would only be an issue with private student loans and Federal Direct Unsubsidized Loans since the U.S. Department of Education pays the interest on Direct Subsidized Loans while you’re in school at least half-time, for six months after you graduate and during periods of deferment.
The Bottom Line
College students don’t have to wait until they’re done with school to start building credit for the future, and it makes sense to start building positive credit habits early on regardless. Tools like a credit card can help students on their way, whether they opt for a secured credit card or a student card. Other steps like using credit-building apps can also help, and with little effort on the student’s part or on yours.
Either way, the best time to start building credit was a few years ago, and the second best time is now. You can give your student a leg up on the future by helping them build credit so it’s there when they need it.
20% APR. Account is subject to a monthly account fee of $2, account fee is waived for the initial six-monthly billing cycles.
College Ave is not a bank. Banking services provided by, and the College Ave Mastercard Charge Card is issued by Evolve Bank & Trust, Member FDIC pursuant to a license from Mastercard International Incorporated. Mastercard and the Mastercard Brand Mark are registered trademarks of Mastercard International Incorporated.
About the Author
Jeff Rose, CFP® is a Certified Financial Planner™, founder of Good Financial Cents, and author of the personal finance book Soldier of Finance. He was a financial planner for 16+ years having founded, Alliance Wealth Management, a SEC Registered Investment Advisory firm, before selling it to focus on his passion – educating the masses on the importance of financial freedom through this blog, his podcast, and YouTube channel.
Jeff holds a Bachelors in Science in Finance and minor in Accounting from Southern Illinois University – Carbondale. In addition to his CFP® designation, he also earned the marks of AAMS® – Accredited Asset Management Specialist – and CRPC® – Chartered Retirement Planning Counselor.
While a practicing financial advisor, Jeff was named to Investopedia’s distinguished list of Top 100 advisors (as high as #6) multiple times and CNBC’s Digital Advisory Council.
Jeff is an Iraqi combat veteran and served 9 years in the Army National Guard. His work is regularly featured in Forbes, Business Insider, Inc.com and Entrepreneur.
The Westwood neighborhood in Los Angeles has so much to offer its residents. From great schooling to delicious restaurants, there’s something for everyone in Westwood. This article will tell you all you need to know about this desirable Los Angeles neighborhood.
Where is Westwood?
Settled on Wilshire Blvd., Westwood is nestled amongst some of L.A.’s wealthiest neighborhoods. To the north, you’ll find Bel Air and to the south, there’s Century City. On the west lies Brentwood and on the east, there’s Beverly Hills.
In addition, the popular neighborhoods of Santa Monica and Hollywood are just a few miles away.
Source: Rent.
What’s it like to live in Westwood, Los Angeles?
Like all L.A. neighborhoods, Westwood is truly unique. It’s located close to the famous UCLA campus, which can make the surrounding area feel like a small college town. However, that doesn’t mean there isn’t more to this diverse neighborhood.
The average resident of Westwood is 50 years old. While the average resident skews a little older in age, it’s also a great space for young families and singles alike. There are many different elements that make living in this area great. Let’s dive into a few of those elements.
Community
Westwood’s population is roughly 2,000 people, composed of retirees, young adults and students. Although the area mainly draws in students attending UCLA or other surrounding colleges, it has become more popular in recent years due to the building of new high rise apartment buildings.
The area is also home to many retirees who enjoy the more suburban side of Westwood, near The Los Angeles Country Club. This area hosts spacious homes that draw in people looking for a quieter side of this urban neighborhood.
Westwood is also a great option for families as the area offers several amenities suited for families, such as spacious parks and interactive play areas. In this community, you’ll really find a broad mix of people across all ages and walks of life.
Safety
If you’re looking for a safe neighborhood in Los Angeles, you can’t go wrong with Westwood. Compared to other neighborhoods of Los Angeles, Westwood is a very safe place to live. According to the L.A. Times, Westwood averages one violent crime and 12 property crimes per week, with an average of 2.5 crimes per 10,000 people.
While we all want to live in a crime-free neighborhood, this rate per person is incredibly low compared to other areas in the city, state and even country. Safety matters when it comes to choosing a place to live and Westwood is a pretty safe area to settle down and call home.
Transportation
Los Angeles is not known as a walking city and most people living in Westwood drive to work with an average commute time of 27 minutes. Parking in Westwood Village can be tricky and sometimes non-existent. While public transportation is available, it isn’t always the most reliable.
That being said, Westwood is one of the more walkable neighborhoods in Los Angeles. There are other forms of transportation to get around this cozy neighborhood, such as rideshare apps, bikes and scooters.
Education
There are many great schools within the Westwood neighborhood. For families with children, the area offers many options for school, from private to charter to public schools. For high school, Westwood has many college prep schools for those looking for a more specific education for their children.
The most notable schools in the area are UCLA and Mount Saint Mary’s, which draws college students from all over the world. Whether your kids are just starting their education or ready to write their college essays and take the SATs, Westwood is a great neighborhood that caters to education and continued learning.
Entertainment
Westwood, Los Angeles has an abundance of entertainment, everything from fancy, fine dining to cozy coffee shops. Some of the favorites restaurants include Mary and Robbs Westwood Café, Diddy Riese and Espresso Profeta.
If you’re looking for a cultural day activity, you’re in luck because Westwood is home to some of L.A.’s best art museums — one of them being The Hammer — where you’ll find everything from Monet to modern art.
There’s also plenty to do at night. Try The Geffen and Fox theater as they’re staples in Westwood and are well known for putting on plays and hosting movie premieres. On the weekend, support local shops at the Farmers Market. Keep in mind the neighborhood is also located within driving distance to many other neighborhoods and attractions, such as the beaches of Santa Monica and the famous Rodeo Drive in Beverly Hills.
Finding an apartment in Westwood
Westwood is one of the most sought after neighborhoods in Los Angeles. With its new high-rise apartment buildings, diverse restaurants and entertainment, this area is quickly increasing in popularity. The average rent in Westwood is around $5,000 for a three-bedroom apartment.
Whether you’re a student, recent grad, young family or retiree, Westwood has something for you. It’s the perfect Los Angeles neighborhood to settle down in. Check out these apartments and find your perfect home in Westwood, Los Angeles.
Ashley Singleton is a writer who loves following and writing about current lifestyle, DIY and home improvement trends. You can read some of her other work on the Lady Spike Media website. In her spare time, she performs stand-up comedy in Los Angeles.
A college degree can be a major rite of passage and career stepping stone for millions of Americans. Putting one’s education to work can unlock professional rewards and a solid financial future.
However, there’s no denying that the cost of tuition can be daunting. The student loan debt balance has surged 66% over the past decade and, according to the Federal Reserve, currently totals more than $1.77 trillion (that’s trillion, not billion).
Having those payments unfurling before you can be stressful and frustrating, and the effects of student loan debt can be far-reaching. It can seem as if some of your personal, professional, and financial goals will have to wait until you can pay off what you owe. But there are ways to manage those loans and navigate this situation. After all, student debt is what you are going through, not who you are.
Here, you’ll learn more about student loan debt, how it can impact borrowers’ life decisions, and ways to minimize those effects and manage debt more effectively.
Student Loan Debt Statistics
To understand how impactful student loan debt can be, here’s some perspective. Consumer debt in the United States is measured by the Federal Reserve in five distinct categories — home, auto, credit card, student, and other debt.
Using the Federal Reserve Bank of New York data from 2023, here’s how household debt stacks up in the U.S.:
• Mortgage debt (excluding HELOCs, or home equity lines of credit): $12.14 trillion
• Student loan debt: $1.599 trillion
• Auto loan debt: $1.595 trillion
• Credit card debt: $1.079 trillion
Here’s how educational debt stacks up more specifically: In 2023, the average student loan borrower carried $37,338 in federal debt and $54,921 in private debt. 💡 Quick Tip: Enjoy no hidden fees and special member benefits when you refinance student loans with SoFi.
Impact of Student Loan Debt on Life Plans
Given the cost of student loan debt, some borrowers may delay big life decisions, such as buying a home or starting a family until they are further along in their loan repayment or have their debt totally paid off. Here are some specifics about the potential negative effects of student loan debt. Then, more happily, you’ll find tips on managing what you owe.
Homebuying
One landmark study in the Journal of Labor Economics found that a $1,000 increase in student loan debt lowered the rate of homeownership by approximately 1.8% for people in their mid-twenties who went to a public college for four years. This is equivalent to a delay of about four months in achieving homeownership per $1,000 in debt.
Indeed, as student debt has increased, homeownership among younger Americans has decreased. Experts, however, caution that this is a complex situation and not a matter of student debt meaning you can’t buy a house.
It’s true that student loans can raise a person’s debt-to-income ratio (DTI), a critical measure of creditworthiness. And it can slow an individual’s ability to save for a down payment.
That said, there are ways to get a mortgage with a student loan. By managing debt responsibly and building your credit score, you can achieve this goal. It’s also wise to look into the various mortgages available with as little as 3% down or even 0% for qualifying candidates.
Pursuing Graduate School
If you have undergraduate student loan debt, you may decide to delay or forgo enrolling in a graduate or professional degree program. Graduate school can often mean even more debt. According to the Education Data Initiative, the average graduate student loan debt is $76,620 among federal borrowers, with only 14.3% of that coming from the borrower’s undergraduate studies.
That said, an advanced degree can mean increased job opportunities. For example, the starting salary for those who majored in computer and information sciences of a recent graduating class was $86,964 with a bachelor’s degree and $105,894 with a master’s degree. And if you want to go to medical school, law school, or business school (which can lead to fulfilling and lucrative careers), you will need significant additional training. So it’s important to determine if taking out the debt is worthwhile vs. your anticipated earning potential.
Employment and Career Choices
What you’ve just read indicates some of the ways that student loan debt can impact your career plans. There are a couple of other ways that your loan balance might impact your career:
• If you have significant debt and are faced with the choice between your dream job at a lower salary and a basic job at a higher pay grade, you might opt for the one that fattens your bank account even though it doesn’t thrill you.
• Also, some companies (particularly those in the financial industry) may check your credit score as part of your job application. Student loans could build your score if you pay on time, and they could broaden your credit mix. But loans also create the opportunity to make a late payment or miss one entirely. Those are aspects of your payment history, the single largest contributor to your score. If you don’t stick to your schedule and pay what you owe every month, you could wind up with a lower score.
Marriage and Divorce
Student loans can also impact one’s personal relationships. According to a 2023 Student Loan Planner® survey, one in four borrowers said they delayed their marriage plans due to student debt. In addition, more than half of respondents (57%) said their student loans were a source of considerable stress in their marriage or relationship.
Marriage can impact your student loan payments, depending on the types of loans you have and the repayment plan you are on. If you are on an income-based repayment plan, your monthly bill might change based on how much you and your spouse earn and how you file your taxes.
Marriages and money can create complex situations that are hard to fully decode. When looking at the impact of student loan debt on divorce, it can be tricky to unravel the interplay of factors. One survey conducted a few years ago found that 13% of respondents attribute student loan debt as a cause of their divorce. Yet some couples with student loan debt were more likely to delay divorce due to their student loans and how it might impact their ability to repay their debt. So in matters of the heart and the wallet, there isn’t a clear consensus.
Recommended: How Marriage Can Affect Your Student Loan Payments
Starting a Family
According to the USDA and other government statistics, it can cost more than $330,000 to raise a child to age 18. That’s no small amount, and it’s a daunting figure for many. Those carrying a hefty amount of student debt may delay parenthood as they pay off their loans.
One landmark New York Times survey in 2018 found that among people who didn’t plan to have children at all, 13% said it was as a result of student debt. In a more recent study of those with high student debt, 35% said they were waiting to have kids due to the impact of their loans on their finances. Still others may respond to this scenario by adopting strategies to pay off student loans faster.
Saving for Retirement
One of the negative effects of debt on young adults is that their retirement savings can be impacted. A recent study conducted by Fidelity found that 84% of borrowers felt that their loans impacted their ability to save for their retirement.
A study from a few years ago bore this out: Research by the Center for Retirement Research at Boston College found that Millennials who had never borrowed student loans saved twice as much for retirement by age 30 as college graduates who have student debt.
Here’s another bit of intel that supports the fact that student debt can make it harder to save for your future. Fidelity also found that the percentage of student loan borrowers who put at least 5% of their salary into their retirement plan rose from 63% to 72% during the Covid-19 loan payment pause.
Delaying retirement savings can mean playing catch up in your later years. Typically, the earlier you start saving for retirement, the more time your money will have to benefit from compound interest.
It can seem overwhelming to start saving for retirement while you’re still paying off student loan debt, but doing both at the same time can help you meet your financial goals in the future. 💡 Quick Tip: Refinancing could be a great choice for working graduates who have higher-interest graduate PLUS loans, Direct Unsubsidized Loans, and/or private loans.
How to Manage Your Student Loans
As you’ve just read, student loans can impact many areas of your life. But you are not alone in this situation, and your loans will not be with you forever. Focus on smart solutions to help you manage your debt repayment. Consider the following strategies.
Keep Paying
Even when money is tight, it’s wise to pay on time, as much as possible. Timely payments are the single biggest contributing factor to your credit score, an important financial metric. So do your best to keep current on those monthly installments.
Make a Budget
It’s hard to effectively manage your student debt and your finances in general if you don’t know how much money you have coming in and going out. If you don’t yet have a budget or yours isn’t working well for you, commit to reviewing different budgeting methods and finding one that works.
This process of tracking your money and possibly trimming your spending could reveal ways to free up more funds to pay off your debt.
Repayment Plans
There are federal student loan repayment plans that base your monthly payment on your income or ones that give you a fixed monthly payment. Those that are based on your income may help you lower your monthly payment.
It can be worthwhile to consider your options. For fixed payments, you may have a choice between standard, graduated, and extended plans. If you focus on income-driven repayment (IDR) plans, you will likely review the SAVE Plan (which replaces REPAYE), PAYE, IBR (income-based repayment), and ICR (income-contingent repayment) plans. With IDR plans, once you satisfy a certain number of months of qualifying payments, you can be eligible for forgiveness on the remaining balance of your loan(s).
Deferment and Forbearance
If you are finding it challenging to pay your federal student loans, you may be able to take advantage of deferment or forbearance, which are both ways of pausing or lowering your payments for a specific period of time. Perhaps you haven’t yet found a job after graduation or have another situation that is impacting your ability to pay; these programs can help qualifying borrowers out.
The main difference between is that during deferment, borrowers are not required to pay the interest that accrues if they have a qualifying loan. With forbearance, however, borrowers are always responsible for paying the interest that accrues, no matter what kind of federal loans they have.
Forgiveness
Here’s another path to lessening the impact of student loans on your life: forgiveness, which means you may not have to pay back some or all of your federal student loans. For these programs, there are a variety of qualifying factors, such as whether you’re a teacher, government employee, or worker at a nonprofit. Other factors could be that you have a disability, your school closed, or you declared bankruptcy, among others. It’s worthwhile to research your eligibility because the upside could be significant.
Recommended: A Look at the Public Service Loan Forgiveness Program
Refinancing
Another possible way to reduce the impact of student debt on your life is student loan refinancing.
When you refinance your loans you take out a new loan with a private lender. Depending on your credit history and financial profile, you can qualify for a lower interest rate, which could substantially lower the amount of money you pay in interest over the life of the loan (depending on the term you select, of course). Two important notes about this:
• When you refinance federal loans with a private loan, you forfeit federal protections and benefits (such as the forbearance and forgiveness options mentioned above).
• If you refinance for an extended term, even though your monthly payment may be lower, you may pay more in interest over the life of the loan.
To see how refinancing could help you manage your student loans, take a look at an online student loan refinance calculator.
The Takeaway
Looking to lower your monthly student loan payment? Refinancing may be one way to do it — by extending your loan term, getting a lower interest rate than what you currently have, or both. (Please note that refinancing federal loans makes them ineligible for federal forgiveness and protections. Also, lengthening your loan term may mean paying more in interest over the life of the loan.) SoFi student loan refinancing offers flexible terms that fit your budget.
With SoFi, refinancing is fast, easy, and all online. We offer competitive fixed and variable rates.
SoFi Student Loan Refinance If you are a federal student loan borrower, you should consider all of your repayment opportunities including the opportunity to refinance your student loan debt at a lower APR or to extend your term to achieve a lower monthly payment. Please note that once you refinance federal student loans you will no longer be eligible for current or future flexible payment options available to federal loan borrowers, including but not limited to income-based repayment plans or extended repayment plans.
SoFi Loan Products SoFi loans are originated by SoFi Bank, N.A., NMLS #696891 (Member FDIC). For additional product-specific legal and licensing information, see SoFi.com/legal. Equal Housing Lender.
Non affiliation: SoFi isn’t affiliated with any of the companies highlighted in this article.
Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.
Third-Party Brand Mentions: No brands, products, or companies mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third-party trademarks referenced herein are property of their respective owners.
Do you ever feel like you’re just living your life between your home and the office? Does it get crowded feeling like home is completely your responsibility, and the office is only for work? If so, you might need to find what is often referred to as a “third place.” A third place is somewhere that allows for freedom of expression and exploration without the constraints of either your home or work environment. In this post, we’re discussing the top 15 ways in which you can discover how to create long-lasting moments in this particular spot.
1. High-School Gym
One user shared, “My high-school gym was like a third place. I originally went there because I had nowhere to go for lunch and a break. Didn’t want to become a target for bullying by looking lonely. Made some friends in the gym and got pretty strong in the process. After school, I joined a gym, which was the opposite experience. There’s no sense of community. Awkwardness and silent judgment fill the air. It’s more like the atmosphere of waiting at a bus stop.”
Another user responded, “I don’t really know if the gym counts as a third place anymore. Everyone’s on their air pods and not wanting to bother others or talk.”
2. City-Organized Adult Sports
Community sports are a good option, if there’s a thriving community already in place in your area. Sure, it’ll take some work at first. It might take time for your fitness level to reach the average on the sports team or group you join, and it almost always takes a while to really hit it off with new friends. But once you’re invested, the payoff can be really worthwhile. Imagine if you could count on meeting friends at least once a week, maybe more, to have a good workout, good conversation, and maybe even hang out afterwards?
Another user shared, “Depends a bit on the size of town/city you live in. In my city, there’s a group of runners that do like a Saturday morning group/ open to anyone running. Everyone is pretty friendly. Folks gather and chat for 30 minutes before the run.
“We also have adult sports throughout the city, so stuff like softball, soccer, and basketball, where they’ll paste together a team from singles or place you on a team that’s one person short. I also once took a class at REI in bike maintenance and met a couple of nice folks. REI also organizes events that I think probably draw in folks looking for an interaction (day hikes, trail runs, kayak trips).”
3. Library
Admittedly, libraries are probably not top-of-mind for most of us. But all the same, libraries have a lot more classes than just toddler story time. There’s often classes for things like poetry, story-writing, computer programming, art, and more. And while your skill might eventually outgrow the free library class, you could come away with a new hobby and new friends!
One user shared, “Hit the library friend. There’s all sorts of programming, and it’s free!”
4. Something We Have to Create
One observation of third places is that sometimes, we just have to create them. But honestly, it could be anywhere. Maybe you like hiking at a local park, or there’s a quiet coffee shop near your home. Maybe you have the space to create a special nook in your home with a bookshelf and twinkle lights, or the ability to build a shed in the backyard you can develop into your own special space. Maybe it’s as simple as sitting in your car for half an hour after you get home and playing some quiet music while you read a book for a few minutes.
“I’m glad finally someone brought it up. It’s something we have to create, and it could be anywhere. I sometimes chill in my car with the radio playing softly. Normally I am alone, but once I had a friend join me, surprisingly they said it was enjoyable,” one commenter chimed in.
5. Bars
Once upon a time, a local bar or pub made for a great third space. In some places they still do, but you may need to do some hunting. Look for a coffee shop that’s open late and maybe serves wine and bear. Maybe there’s a small diner with options affordable enough that you can become a regular. Whatever it is, a bar, coffee shop or restaurant can make an excellent third space.
One user commented, “That’s what bars used to be for.”
Another Redditor replied, “Too expensive nowadays …”
6. Suburban Strip Malls
One online Redditor commented, “I’m 24, and I’m in the same boat. I live at home in the suburbs, so I typically go to suburban strip malls or the gym, but I also don’t have much to do otherwise (other than work and occasional chores).”
7. Paddleboard
“Do you have any state parks or trails nearby? Arboretum? Rock climbing gym? What about exploring an apparatus like the Lyra or silks? Jogging outdoors?
“Do you have any lakes nearby? Paddleboarding can be an excellent meditative core workout.”, one user suggested.
8. A Tree Fort
One Redditor posted, “Build a tree fort near your house.”
Honestly, tree houses would probably still appeal to a lot of us. But even if not, why not build one for your kids? They’d probably love it, and you can instill in them the ability to curate their own special area.
9. Meetup Dot Com
“meetup dot com … Search for your interests. Rock climbing, CrossFit, doggie playdates, adult sports leagues through the park district, fibre arts, ultimate, pottery, etc.,” one user suggested.
The OP replied, “I’ve tried that, but it always seems geared towards an older demographic.”
10. A Local Recreation Center
If everyone in gyms is getting to focused on getting through their own workout without talking to anyone, try a community center. They’re usually already full of people who are looking for friendships and teammates!
One Redditor posted, “Try your local recreation center. They have classes, sports event sign-ups, sometimes pools depending on area, other resources and group gatherings.”
11. Athletic Courts
One user said, “If you’re specifically looking for fitness and activity, I would check out nearby athletic courts or social media for exercise groups.”
12. Discord Servers
“It sounds like what you need to do is meet other people as opposed to finding a new space. Are there any local Discord servers for your area for young adults? I found this very helpful for meeting more people and keeping in touch,” one Redditor stated.
13. A Community Center
Another commenter asked, “Do you have a community center? Like a YMCA or a community fieldhouse? My local ones usually have adult sports/activities going on, like basketball training, judo, etc. You can also pay to go for the day and just do whatever you want, like at the fieldhouse, people are using the different fields for basketball, soccer, football, baseball, etc.”
14. Disc Golf Place
One Redditor posted, “Disc Golf! Easier than golf, cheaper than golf, more laid back than golf. If you enjoy IPAs, jam band music, weed and dogs, then that’s a bonus.”
Another user added, “Disk golf seems a pretty social outdoor activity. Adult league sports teams. Kickball, softball, things like that. You can get a part-time serving job, decent extra money and servers like to get together after work. Maybe a local game shop has picked up games for D&D or some other tabletop game. There are local meetup apps and groups on social media.”
15. A Dance Studio
“I take weekly classes at a dance studio with all the same students for a full school year. There’s a large adult dance class offered at this studio. Many other places might not have as many options, but it’s nice to get to know the same people over the course of several months,” commented one user.
Which one have you tried already and want to try next? Share your thoughts with us below!
Source: Reddit.
10 Actors Perfectly Cast for Their Character Roles
Have you ever watched a movie or show and been completely lost in it because of how well an actor or actress became their character? Check out this article for a whole list of actors who were perfectly cast!
11 Vampire Movies That Will Make You Thirst for More
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10 Incredible Movies That People Rated 10 Out of 10
It’s pretty hard to replicate the experience of watching your favorite movie for the first time, but we’ve put together a list of movies that people have rated at a perfect 10/10. Next time you need a good movie to watch, check this out!
10 Famous People Who Canceled Themselves With Their Own Stupidity
We’ve all been there: you make a comment you haven’t thought through at all, and the whole room goes silent at what you’ve just said. But can you imagine doing that as a famous person—and getting canceled? Check out this list of celebrities who did just that!
13 Things You Shouldn’t Do When You’re in the US
Are you planning a trip to the US? Culture varies a lot between countries, even countries that share borders. So if you’re headed to the good old U. S. of A, here are a few pointers to make your travels go more smoothly!
Inside: Looking for the perfect graduation gift? Check out our selection of clever ways to give money. These graduation money gift ideas are fun ways to celebrate.
Graduations signify transitions from one chapter of life to a new groundbreaking journey. This major milestone should be marked with a special gift.
In various cultures, gifting money presents the ultimate creativity, coupled with practicality. It expresses your wishes for the graduate’s prosperity and financial independence.
We have the best graduation money gift ideas just for you.
This post may contain affiliate links, which helps us to continue providing relevant content and we receive a small commission at no cost to you. As an Amazon Associate, I earn from qualifying purchases. Please read the full disclosure here.
Why choose money gifts for graduates?
Graduates are on the brink of venturing into new territories, whether it’s furthering education, taking a gap year, investing in big-ticket items, or moving to kickstart a career. These steps often come along with substantial financial burdens.
A money gift, therefore, becomes a thoughtful and practical gesture.
A survey by the National Retail Federation recorded cash to be the most popular graduation gift, given by 55 percent of participants. In addition, 43% give greeting cards (often with cash inside), followed by gift cards at 32%, apparel at 14%, and electronics at 10%. 1
Hence, money gifts are not just loved by grads but also cherished by friends and family, making them a comprehensive gifting solution.
Fun and Creative Money Gifts for Graduates
Money Lei
Creating a money lei as a gift for a graduate is a fun and creative way to give cash. To make the lei, start by folding one-dollar bills in a fan shape, then thread them onto a necklace made of string or yarn.
You can add ribbons, faux flowers, or even banknotes of higher denominations to make it even more special. Learn how to make a money lei from this mom.
Money Chain
A fun and inventive way to present cash as a graduation gift is to create a paper chain out of dollar bills. This concept not only represents an inventive method to gift money, but it also adds a decorative touch to the graduate’s celebration.
You can assemble the chain using dollar bills and a stapler, turning it into a creative money necklace. To make it even more special, include a rosette made out of a larger denomination bill like $20 or $50 with the inscription “Congratulations Grad!”
Get detailed instructions on making a money chain.
DIY Graduation Money Cake
Graduations warrant celebration with a cake. How about centering the stage with a splendid DIY graduation money cake? It’s not just a delicious mouthful but also a delightful sight!
This visually humorous and surprisingly straightforward project involves rolling your dollar bills in a circular shape to resemble cake layers. Topped with a mini graduation hat and a congratulatory note, it’s sure to bring smiles for its sheer creativity and attractive bounty.
Better than a diaper cake, and perhaps more loved than a real cake, a money cake makes a clever centerpiece and a graduation gift. Use our inventive DIY money cake ideas to draw inspiration from to build a money masterpiece. Add a personal touch by incorporating your graduate’s favorite colors, stickers, or little decorative items that reflect their personality or interests.
Adding a creative twist to your monetary gift can make it even more memorable too. Spiraling money into a puzzle box, the recipient must solve the puzzle to claim their cash – this adds an element of excitement and challenge. You can choose a puzzle that suits the graduate’s interest, making this fun idea even more personal and thoughtful.
Secret compartments that hold hidden treasure. The recipient must learn how to crack the puzzle to open the secret box.
Graduation Cap Mason Jar with Money Diplomas
This graduation money jar by Must Have Mom not only serves as an impressive cash gift but, courtesy of the graduation cap, neatly doubles as a party decoration too. Handmade with love, filled with cash, and resonating with the graduation spirit – what’s not to like?
Fill the Mason jar with rolled-up bills, each ingeniously crafted to resemble mini diplomas. Secure these ‘diplomas’ with bright ribbons for color pop. Add some coins to represent the small steps it took to achieve this big milestone. Top it up with a mini graduation cap, which you can easily craft with black cardstock and an adorable tassel.
And the best part? It might even inspire your graduate to save!
Pizza Box Filled with Cash
Who doesn’t love pizza? Break up the monotonous way of handing over cash in a dull envelope by presenting it in a faux pizza box. Yes – you read that right! The pizza box filled with cash is an ingenious idea that adds a mix of humor, surprise, and cash!
Craft a pizza out of money bills, each piece folded and clipped like a pizza slice. Etsy and Simplistically Living suggest adding red paper circles with quarters on top for that real pepperoni look.
Learn how to make a pizza is the dough gift.
Graduation Money Box Gift Pull
The graduation money box gift pull bears a unique resemblance to a Kleenex box, offering a creative way to gift money to graduates.
This fun and interactive gift involves attaching money bills end-to-end using transparent tape and then neatly rolling them into a tissue box such that the top bill resembles a tissue ready to be pulled. Decorate the box to give it a celebratory touch, and as the graduate pulls out what they think is a tissue, they’d be pleasantly surprised to find a continuous roll of money instead.
Money Shirt and Tie Origami
The art of origami takes to gifting, adding a personal touch to the otherwise cliched act of gifting cash. Enter the money shirt and tie origami – a creative, fun, and super unique graduation gift.
This cleverly folded shirt and tie ensemble is made from a dollar bill. An epitome of the exciting transition from lecture halls to corporate corridors, it resonates with the graduate stepping into professional life. The stitched proverb “Clothes make the man” truly shines out here, for this crisp white money shirt is undoubtedly a charming symbol of maturity and real-world readiness. Add a quarter or a dime to resemble a metallic tie-pin.
For an in-depth tutorial on how to fold a dollar bill into a shirt and tie, you can look up directions here.
Unique Money Gift Presentation Ideas
Money Tree: An Ever-Growing Investment
In line with the adage, “Money doesn’t grow on trees,” we introduce you to a tongue-in-cheek yet highly symbolic take on this phrase. The Money Tree! (yep, I love to prove my dad wrong!)
This is a creative and innovative way of presenting cash as a gift. It’s also a symbolic nod towards the idea of financial growth and prosperity for the graduate, subtly wishing them monetary abundance throughout their journey.
Fortune Cookie Money Gift
Looking for a fun and quirky way to present money to the graduates on their big day? How about incorporating a little Asian flair and a dash of fun with a Fortune Cookie Money gift? This surprising and unique concept makes for a perfect impression!
The money fortune cookie idea, courtesy of The Paper Mama, is an attractive alternative to age-old gifting methods. Fold your money bills into the shape of fortune cookies and slip them inside a takeaway Chinese box for the ultimate presentation.
Elevate this gift by including a heartfelt note or some thoughtful advice inside each fortune cookie, just like the actual fortune cookies come with hidden messages. Each ‘cookie’ is also a symbol of luck and prosperity.
Zip-Open Money Holder
A Zip-Open Money Holder serves as a stylish and functional way for men to handle their cash, making it a perfect gift for graduates, birthdays, or festive occasions. The design allows for secure storage, and the feature of easily displaying cash by unzipping adds a hint of excitement to the gift-giving process.
With a myriad of styles ranging from minimalist to flashy, you can match the recipient’s personality perfectly.
Emergency Cash Inside Picture Frame: A Lifesaver Graduation Gift Idea
Imagine a rustic shadow box or a sleek modern frame housing a neat arrangement of cash bills under the caption “In Case of Emergency Break the Glass.”
Add a personal touch by including a caring note like “If you ever need help, I’ll be there for you.” This not only gives the impression of a safety net but also reassures them of your ongoing support.
It’s unconventional cash gifting, fun, practical, and literally, their savior ‘in case of emergency’.
Money Balloons to Life You Off Financially!
A truly unique and memorable way to gift money to graduates is to tuck it inside balloons, creating surprising cash confetti.
This sneaky method not only redefines the act of gift-giving, but also adds a fun and exciting element, as the receiver pops the balloon to discover their monetary gift within.
Check out how to make money balloons.
Handmade Money Surprise Bath Bomb
Time for a lovely bath with a hidden surprise! A fantastic way to hide money especially for teen girls!
This unique gift idea of bath bombs also is made with all natural and vegan skin care products. Perfect for small budgets!
Digital-age Money Gifting Methods
Transforming a Venmo Payment into Special Graduation Gift
Building upon this digital-age trend, Venmo introduced the “gift wrap” option, which transforms your usual cash transaction into an endearing cash gift. The payment comes with a short but heartfelt animated GIF intro, which makes the receipt of money all the more special for the recipient.
While Venmo currently does not offer graduation-specific designs, you may utilize the “Just Because” message. Personalize it in your own words, making it relevant to the graduation context. Conveying your wishes and love instantly uplifts the otherwise mechanical act of transferring money.
This digital-age money gift version is ideal if you’re miles apart on your loved one’s Big Day. Despite the physical distance, with Venmo and other such apps, you’re just a few clicks away from blessing the grad with your love, congratulations, and of course, monetary gift.
Money Tree with Gift Cards
A money tree spruced up with various gift cards is an innovative and exciting way to offer a present. This method is not just creative but offers a tangible and enjoyable surprise that surely excites the recipient.
Don’t miss out on purchasing a mix of gift cards from different retailers, topping the whole experience up with a variety of potential shopping sprees. This thoughtful gesture is sure to be appreciated and remember to add a personal touch for an unforgettable gift.
Gift Card in a Congratulations or Graduation Style Gift Box
For a unique and crafty gift presentation, consider placing your gift card inside a mini graduation cap box. This personalized touch not only adds an element of surprise but also highlights the sentimentality of the occasion.
DIY Money Gifts with Step-by-step Instructions
What a sweet Idea!
A unique and sweet way to gift money is by using a glass jar filled with a person’s favorite sweets or candies. Start by choosing a sturdy glass jar, and flood it with your recipient’s beloved candy.
The trick lies in tucking some cash amongst the treats, creating a delightful surprise for the recipient. You can even add a personal touch and a festive aura by attaching a note or decorating the jar appropriate to the occasion, be it graduation, birthday, or holiday.
Learn how to add an element of surprise to your money gift with a glass jar and sweets/candy,
McDonald’s Money French Fries Gift Idea
Everyone loves McDonald’s fries, but have you ever thought of gifting them in money form? The McDonald’s Money French Fries gift idea brings a unique blend of humor and surprise to your graduation gifting game.
This quirky idea involves emptying a McDonald’s french fry container and refilling it with neatly folded bills that mimic yummy fries. This arrangement can be topped off with a note adding to the humor such as, “Did Ronald McDonald ever tell you to keep the change?” or “Want cash fries with that?”
This fun-filled concept comes from Making Memories with your Kids , adding a light-hearted spin to the routine money gifting. Graduates would appreciate this unusual fusion of their fav fast-food chain and a monetary jump-start.
Money Flowers: An Elegant Cash Bouquet
Redefining flower gifting, meet the impressive Money bouquet, an intelligent amalgamation of art, appeal, and worth sure to impress any graduate.
Make the graduation day extra special by gifting your grad a bouquet of flowers with a twist. This project only requires folding skills and a little creativity. Gently roll your money bills to build the cake, then purchase your grad’s favorite flowers.
Plus you can buy the money bill holder on Etsy to make this project easier.
Pre-DIY Money Bouquet
Everyone loves to receive a bouquet of roses! This money gift idea is hidden within the gift. Very attractive present.
This Bouquet is sure to wow for any occasion!
Money Crayons – To Remind Them How Far they Have Come
Consider the charm of hiding money in crayons, an ingenious nod to the recipient’s childhood.
This unique gift idea not only brings back the delightful memory of days spent drawing and coloring with wax sticks, but it also symbolizes the progress the graduate has made, transitioning from using crayons as a child to earning money as an adult.
Learn how to make money crayons.
Investment in Their Future
Express your confidence in the graduate’s future and support their goals with an investment gift. A 529 college savings plan or an investment account is an excellent idea that not only shows your trust in the graduate but also your commitment to their future.
Many grads don’t know how to invest in stocks. So, this may be a great chance to teach them.
It’s not just about money but also a testament to your confidence in them and their dreams. An investment in their future is an invaluable graduation gift that is sure to be appreciated. It’s symbolic, purposeful, and plays a significant part in sculpting their future.
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Indulge in a Money Cake
Lights! Camera! Cake? Hold that thought because we’re going to redefine the whole cake cutting tradition at graduation parties in a fun and profitable way.
Why make a cake when you can make a money cake? It’s an eye-catching centerpiece, a conversation starter, a whole lot of fun, and a cash gift all in one. Inspirations turn dollar bills spiral into a multi-tier cake, complete with a graduation hat on top and maybe even whipped cream at the edges.
“Bake your success,” or let’s say, “Stack your success,” by creating a money cake for your graduate. So, let your creativity flow and gift a homemade cake that’s literally a slice of liquid net worth!
Money Cake Pull Out Kit
Don’t want to make a real cake? Then, opt for the easy solution with a money cake pull out kit! Perfect surprise for graduates with the most versatile and widely-appreciated gift of them all: cash?
We know how you can do it in style: the amazing money cake dispenser, an incredible accessory that you will use on endless occasions.
This complete cash dispenser set includes the special box, cake topper, 1 plastic roll with 50 connected pockets, and printed instructions.
FAQs About Money Gift Ideas For Graduation
A good grad gift with money is one that not only offers financial assistance but also a personal touch, a dash of humor, or a token of encouragement. It makes the recipient feel cared for and supported in their next journey.
Ultimately, a good grad gift with money expresses your congratulations, best wishes for the next chapters, and a monetary boost to help them get a head start in their next big adventure.
These are just creative ideas to make giving money more memorable.
Deciding how much cash to give for a graduation gift depends on several factors including your personal budget, your relationship with the graduate, and the graduate’s level of education.
We have found money gifts for high school graduates typically range from $20 to $300. The study suggests $50 to $100 as an average amount for close family members and friends.
For college graduates, some suggest higher amounts to reflect the monumental achievement. Paying for the Graduate suggests gifting at least $50, but depending on the relationship, you can give up to $500.
Remember, there’s no hard or fast rule determining the perfect amount for a graduation gift. What counts the most is the sentiment behind the gift. Ensure that it’s an amount you can comfortably give, for the graduate, regardless of the sum, will undoubtedly appreciate any cash gift received.
Which Creative Ways to Give Graduation Money Gifts is your Favorite?
Graduation is a momentous occasion and deserves a unique token of appreciation and celebration. Money gift ideas for graduation give you plenty of innovative ways to express your well-wishes, support, and belief in the successful road ahead for the graduate.
Whether it’s a Money Cake, Emergency Cash Inside Picture Frame, a McDonald’s Money French Fries, a Money Rosettes bouquet, or a Venmo payment with a personal message, you’re sure to leave a lasting impression.
Each of these ideas adds a fun and creative spin to the traditional act of gifting money.
Regardless of the amount, it is the thoughtfulness and creativity that will be remembered most by the graduate. I still remember ways I received money that was given unusually.
So, which is your favorite, and what novel money gift would you create for your loved one’s graduation?
Make sure to include these financial adults for young adults as wise wisdom.
Source
National Retail Federation. “Graduation spending to reach $5.2 billion with cash and greeting cards as most popular gifts.” https://nrf.com/media-center/press-releases/graduation-spending-reach-52-billion-cash-and-greeting-cards-most. Accessed December 20, 2023.
Know someone else that needs this, too? Then, please share!!
Did the post resonate with you?
More importantly, did I answer the questions you have about this topic? Let me know in the comments if I can help in some other way!
Your comments are not just welcomed; they’re an integral part of our community. Let’s continue the conversation and explore how these ideas align with your journey towards Money Bliss.
Collectively, Americans carry trillions in household debt. And the biggest single element of that burden by far is mortgage debt: It comprises close to $12 trillion of the $17.29 trillion overall.
Latest statistics on average mortgage debt
Mortgage
The average mortgage debt balance per household is $241,815 as of Q2 2023, a 4% increase from 2022.
The total mortgage debt balance in the U.S. is $12.14 trillion as of Q3 2023, an increase of $126 billion over the previous quarter.
The average mortgage balance exceeds $1 million in 26 U.S. cities, primarily on the East and West Coasts.
Mortgage originations collectively total $386 billion, as of Q3 2023, well below the trillion-dollar levels in 2020-21.
Total home equity line of credit debt equals $349 billion as of Q3 2023, more than a $25 billion year-over-year increase.
The average credit score for purchase mortgage holders is 733 as of November 2023.
The total debt service to income ratio (DTI) of U.S. households is projected to rise to 11.7% by 2025, up from 9.9% in 2022. The mortgage DTI alone will increase to 4.5%.
Total U.S. household debt is $17.29 trillion as of Q3 2023, an increase of $3.1 trillion since the end of 2019.
Annual average mortgage debt
Mortgage debt is the heavyweight when it comes to household debt, dwarfing credit card balances, student loans and auto loans. After the tough blow dealt by the 2007-08 subprime mortgage crisis, the annual average mortgage debt declined sharply. However, since 2013, the pendulum began to swing back, with mortgage debt on a steady rise. Since the pandemic, increases in home prices and in interest rates kicked the climb into overdrive.
So, what does this mean for the annual average American mortgage debt in 2024? With housing inventory still tight, interest rates still elevated, and people seeking larger homes to accommodate their evolving lifestyles, mortgage balances will likely continue to grow, though perhaps at a slower pace.
Most common types of debt
Mortgages continue to be a significant portion of household debt in the United States, with a current total of $12.14 trillion owed on 84 million mortgages. This equates to an average American mortgage debt of $144,593 per person listed with a mortgage on their credit report. Despite interest rates hovering above 7 percent, mortgage demand remains strong, driven by two key factors: an increase in the number of people seeking mortgages, and larger mortgages at that.
The record-low mortgage interest rates of recent years allowed buyers to purchase higher-priced homes or refinance their existing mortgages while maintaining low monthly payments. This has led to a rise in outstanding mortgage debt, which currently accounts for 70.2 percent of consumer debt in the U.S., according to New York Federal Reserve figures.
Here’s a look at the other common types of debt among American households, based on credit reporting company Experian’s midyear consumer debt review:
Auto loans. In the year between Q2 2022 and Q2 2023, auto loan debt witnessed a 5.8 percent increase, rising from $1.42 trillion to $1.5 trillion. This rising trend in auto loan debt can be attributed to persistent inventory shortages, escalating prices for new and used vehicles, and supplementary expenses such as auto insurance.
Credit card debt. Between Q2 2022 and Q2 2023, credit card debt surged by 16.3 percent, amounting to a total of $1.02 trillion. This increase is largely attributed to factors such as inflation and increasing credit card interest APRs. In a similar vein, unsecured personal loans also saw a 21.3 percent growth spurt, moving from $156.1 billion in 2022 to $189.4 billion in 2023.
Home equity lines of credit (HELOCs). As of Q2 2023, HELOCs have seen an 8.5 percent increase compared to the same quarter in 2022, reaching a total of $322 billion. This growth can be attributed to several factors. Firstly, the ongoing rise in home prices has increased homeowners’ equity, making it easier for them to tap into their home’s value through HELOCs. Additionally, the current high interest rate environment has made borrowing against home equity more attractive than refinancing a mortgage or taking out other types of loans.
Student loan debt balances. Student loan debt has long been a significant player in U.S. household debt. However, an 8 percent decrease occurred between Q2 2022 and Q2 2023, with loan balances falling from $1.51 trillion to $1.39 trillion. Influential factors behind this decline include the moratorium on interest on student loans, borrowers making payments during the three-year payment pause that concluded this year, and loan forgiveness initiatives introduced by the Department of Education.
Average mortgage debt by generation
Americans generally begin taking on debt as young adults, taper off their pace of borrowing in middle age and work to pay off loans near or during retirement.
Generation
Average mortgage debt
Generation Z
$229,897
Millennials
$295,689
Generation X
$277,153
Baby boomers
$190,441
Silent Generation
$141,148
Source: Experian
For each generation, this trend has taken place in tandem with mortgage rate fluctuations and home price appreciation, which has accelerated dramatically in recent years. In February 2012, the median existing-home price was $155,600, according to the National Association of Realtors. By the same time in 2017, the median was $228,200. As of November 2023, the median home price was $387,600.
States with the highest and lowest mortgage debt
These states had the highest average outstanding mortgage balance per borrower as of the end of 2022, according to Experian:
District of Columbia – $492,745
California – $422,909
Hawaii – $387,277
Washington – $331,658
Colorado – $319,981
In these states, borrowers are much closer to paying off their home loans:
West Virginia – $124,445
Mississippi – $139,046
Ohio – $139,618
Indiana – $141,238
Kentucky – $144,222
How mortgage debt compares to other household debt
In comparison to other types of household debt, mortgage debt often tends to take the lion’s share — largely due to the substantial cost of real estate (a home is likely to be the single biggest asset an individual ever purchases). While mortgage debt tends to be sizable, it is spread over a lengthy period, usually over a term of 15 to 30 years. This mitigates its impact on a household’s monthly budget, especially when compared to high-interest, short-term debt like credit card balances.
That longevity works to borrowers’ advantage in another way: Lenders often view mortgage-holders favorably for their demonstrated ability to manage large, long-term financial commitments. In fact, in contrast to other obligations, a mortgage is often viewed in a positive light by creditors, because — unlike with personal loans or credit card bills — your payment acts as an investment in an appreciating asset. Each monthly installment you pay reduces the principal owed on your house, increasing your stake in the property over time. This home equity can later be leveraged for financial liquidity or for securing lower-interest loans — or just held onto, enhancing your net worth and those of your descendants.
In short, a mortgage is considered “good debt,” due to its role in building equity, growing wealth and demonstrating creditworthiness.
Although our early 20’s are an exciting era full of new-found freedom, there are a lot of ways that the choices we make in our early adulthood affect the trajectory of the next few decades. Occasionally, someone finds the right teachers, mentors and friends to really set them up well for their 20’s and 30’s, but often we look back after several years and wish there were things we’d known how to do differently. From finance strategies to mental health awareness, savvy knowledge can make all the difference as young adults take their first steps towards forging their futures. Below are the 20 surprising things everyone wishes they knew at age 21.
1. Find Someone Who Shares Your Values
Whether you’re dating, getting married, or just trying to find friends, finding people who share your values is crucial. Of course you’ll always have differences with the people around you, but if you share the same core values, like kindness, being fiscally responsible, etc., you’ll find it much easier to remain together.
One user shared, “Find someone who shares your values and wants the same things as you when finding a partner. Whatever that is, everyone else is a placeholder at best and a waste of time and energy at worst.”
Another user replied, “That’s why I’m not dating right now.”
2. Invest Money as Soon as You Can
Investing even a small amount early in your life will drastically change your ability to retire comfortably later. No amount is too small: open some type of retirement account and put in even just ten dollars a month. Bonus points if you can put in your bonuses from work, your tax return, and other cash that’s not part of your regular income!
One Redditor commented, “Invest money as soon as you’re able to while making sure you have enough money to survive on. The plan you may have for your life now may change. Be okay with that. My life is way different than I thought it would be. Stay physically active and eat healthy. Come 30s, it catches up to you if you stop being active and [don’t eat well].”
3. How Interest Rates Work
Interest rates work differently for you on different types of account; credit cards are different from loans, regular savings accounts are different from high-interest savings accounts.
One online user posted, “How interest rates work. What is a stock, and what to do with them. Impact of having children very early. Taxes. Keep making your dream a reality.”
4. How Precious Time Is
Time is one thing we’ll never get back once we give it away. That’s not to scare you; it’s not as if we should feel guilty for watching a movie we only slightly enjoyed. But time is a resource, and a really precious one. You can use time for social media, and if it’s relaxing to you that might be a good use of your hours. But don’t forget about relationships, education (even just learning hobbies counts!) and recreation that really refreshes you.
Another user added to the thread, “How precious time is.”
5. Everyone Has Their Own Issues: Do Not Expect Help
One user pointed out that, among other things, there won’t always be somebody who wants to listen to you vent or moan about your life, or to lend you money if that’s what you need. Plan ahead for yourself, don’t always assume your community will be your safety net.
One user broke down his own learnings and shared, “I wish I would have taken my credit seriously. Never stop being active; it greatly helps your mental and physical health. Learned a skill. I’m in IT now, but I should have been making way more at 35 if I had taken it seriously at 21.
“Who you choose as a partner matters a lot. Unless you have parents that love and have the means to help you, it’s just you against the world, and that’s okay. Everyone has their issues and do not expect help from anyone.”
Another user responded, “5 hit hard.”
6. Everything Is Going to Work Out Great
While you may have been launched into your 20s unprepared, wishing you knew a whole lot more than you did, don’t freak out. You know a lot more now. You’ve made it this far and you’re going to be ok.
“That regardless of how it looks right now, everything is going to work out great,” one user stated.
The OP replied, “My therapist reminds me of this during every session.”
7. Understand Monthly Installments
Lots of big-ticket items will offer you the chance to make several small payments instead of paying in one lump sum, but don’t assume it’s an easy way out of paying all at once. Double check how much the smaller payments actually add up to. Are they charging you interest, or hiking up the price just by making it look easier? Pay all at once if you can; it’ll save you some money, and help you to only buy things you can really afford.
Another commenter shared, “Okay, now take that monthly payment fee, multiply it by the number of months for the payment plan, and finally compare that result to the cost of them before the payment plan. Only had to learn that lesson once.”
8. Save as Much as You Can
One user commented, “Save as much money as you can; always split your checks into savings, bills, and for fun!! Just always those 3; just because you’re saving doesn’t mean you can’t have fun; limit yourself so you’re not spending so much money just on that. Putting these three categories together will save you a headache in the future. I started saving when I was 16 because I got my first job! By 20, I had saved 30k through work and financial aid.”
9. Find High-Paying Jobs
While everyone tells us in high school that we should follow our dreams, there’s a lot of wisdom in making sure you’ll be able to get a higher paying job too. If you put in several years with a higher paying job while you’re younger, imagine how much more freedom you could have to go after your hobbies when you have a good amount saved up?
One commenter added, “Find high-paying jobs that give you a 401k or retirement fund if you work full time. My job matches up to 4% of what I put in.”
10. Drinking Is Fun, but It’s Costly
We all know that the hard partying often starts in our 20’s, but how many of us have stopped to consider the cost of that? We’re not suggesting you don’t go out at all, but consider setting a budget for your evenings out, and plan how many times you go based on what you know you can afford.
One Redditor posted, “Drinking is fun, but it’s costly; I spent a lot of my money going out, and now that I’m 23 those ‘friends’ are nowhere to be found. Except for like 2.”
11. Find Friends That Will Stick With You
“Find friends that will stick with you no matter what. Watch out for jealous people who want your downfall. Not everyone will be happy with your achievements, and that’s okay, but don’t let them suck your energy and shine. Cut anyone that’s not making you a better person or pushing you to do better,” one user commented.
12. True Friends Will Always Be Honest
There will come a time in each our lives when when we need to be called out. It’s not comfortable or fun, but if you have friends who are willing to lovingly point out your flaws, consider yourself lucky. True friends will be honest with you and tell you when your habits have become hurtful. But true friends will also remain your friends afterwards; they’ll call you out and then stick around for the fallout and still love you on the other side.
One user shared, “True friends will always be honest even when it hurts … and they will be supportive and want what’s best for you. Don’t settle for less.”
13 Relationships Are Hard, but Dating Is Fun
One user posted, “Relationships [are hard], but dating is fun! As long as you are staying safe and setting boundaries. Relationships are fun when they work, and you feel fulfilled. Don’t settle for anything half-a-. If you spend 70% of your time unhappy and communicate that and nothing changes, it’s not worth it.”
14. Pick a Better College Degree
It’s true: your college degree can make or break your income earning potential. College isn’t necessary for everyone, but if you’re going to college, make sure that you’re choosing a really functional degree. If you want to get an education for fun, then be sure you can really afford to do that.
“Pick a better college degree. INVEST YOUR MONEY. Live frugally. Keep away from my dysfunctional family. Let my first boyfriend break up with me when he wanted to,” one user commented.
15. You Don’t Need to Do It All Tonight
Some of us need a serious pep-talk just to get up off our couches and get things done … and others need permission to just rest. So if that’s you, remember it’s ok not to get everything done at once. You may feel like you have to juggle everything, but a big key to “keeping it all together” is knowing which things you can drop and which things you actually need to get done.
One user shared, “You don’t need to do it all tonight.”
16. Forge Lots of Strong, Healthy Friendships
We’re made to live in community, and it shows. All of us will feel lonely from time to time, but having really strong friendships around you to support you in those times will help immensely. And sure, finding high-quality friends is really hard, but it will always pay off.
One Redditor highlighted friendship; “Forge as many strong, healthy friendships as possible.”
17. Take Care of Your Skin
Beyond taking care of your finances, your menta health and community, and your career, don’t forget your skin. Adjust your skin care to your climate and skin type, drink lots of water, and eat lots of whole foods. Those things together will probably make up ninety percent of a poppin’ skin care regime.
“I wish I’d taken better care of my skin. There’s a texture difference as you get older,” one commenter stated.
Another user replied, “Second this! Wearing sunscreen is always worth it (decades) later!”
18. Put Some Stock in Your Career
One user posted, “Wish I had taken more stock in my career. I wish I had taken college more seriously. I wish I hadn’t lost myself in another person so young. This destroyed my ability to have real relationships. Wish I had never stayed in upstate NY.”
19. How Fast You Become Yesterday’s News
Another Redditor shared, “How fast you forget about yesterday’s news. How eventually we all fade away and how nothing in this world lasts. So, all these fleeting pursuits of happiness lead to emptiness in the end. How quickly your body gives out on you as you age. How the older I am, the more I want to sleep as if I’m always catching up on a never-ending sleep debt. Or save money … lol.”
20. Bet on Apple Stock
One user commented, “To bet on Apple stock.in 1994, it was .24 cents a share. Sigh.”
Sure, it’s impossible to know which investments are going to really take off, but do yourself a favor and invest in what you can while you’re young. You might get a few duds, but hopefully there will be some winners among them. You have more ability to take chances while you’re young since you’re less likely to need the financial security yet, so take some time to learn what you’re doing or consult a professional.
What do you think of the things listed above? Share your thoughts down in the comments!
Source: Reddit.
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