If I just knew then what I know now! A reader recently emailed me inquiring:
If you could give high school students one piece of financial advice, what would it be?
The Responsible Canadian Response
High School is one of the most crucial times in your life money-wise. That is, this is the time period where you really start to establish your attitudes towards, and habits with money. Know that your post secondary education will be expensive and save a very large portion of your income (whatever is not spent on clothes, because really what else do you have to buy, you're lucky enough to have food and shelter provided), probably about 90% for University or College. You will be glad you did when you are about 24 or so.
Also, take control of your finances. If your mother is still managing your bank account, cut the cord. Take the time to understand how to manage all of your day to day banking needs. Did I mention you might need to get a job, I hope this goes without saying..
the moneygardener add in
I couldn't give my opinion without pointing out the elephant in the room. You are YOUNG! Being young's advantages are not limited to having wrinkle free skin, looking good in skinny jeans, and knowing what Twitter is. You have many potential years of investment growth ahead of you; more than this 30 year old could ever dream of. If you are at all inclined, socking some money away in a few dividend paying stocks or index funds would not be a bad idea.
What book would you recommend to a high school student on the subject of personal finance?
Duh...The Wealthy Barber by David Chilton. Put the Nintendo Wii down and read a book!
Now get back to studying for those midterms pimpleface!