Julie Rizzo - Archer HS

Saving for the future

My job is my first job and I use my paychecks wisely. Being young, I try to save as much as I can. With college starting, having a car and whole life ahead, it’s a good thing to save a little money.

I buy things like snacks or the latest technology, but I try to put some money to good use also. Every month, ten dollars automatically goes into my RothIRA account, and sometimes I put more money in it every week. My paycheck is an investment for my future. I do believe that social security will cease when I will reach the qualified age so I need to start now. Not every high schooler does this when they have their first job. Usually they will spend money on clothes, shoes, food and or technology. Saving money for their future is not something that will be on their mind; going to a mall would be their first thought. 

While young, it’s easy to save money; living rent free with their parents, free meals, some kids have their parents pay for their gas, pay for their car, pay for their activities, do everything for them, etc. Living a life without having to pay for things is a perfect time to save money. My pay checks just sit in the bank. My friends, on the other hand, are a different story. Some have jobs and the ones that do, don’t save their money. They use it for monthly subscriptions for music apps or to buy multiple snacks when they have some at their house. All of the unnecessary things people buy are what teenagers buy. Instead of buying everything, they need to start saving! They need to realize that doing this now will help them with college, car troubles, or anything they need in the future. 

Many adults have trouble saving for an emergency fund because they have to pay bills and make sure their families are fed, but for a teenager, it’s not impossible. I’m not advising that every teenager with a job should stop spending money on what they want, but I think at least ten dollars should go to a savings funds. With saving, teenagers could feel better about being financially independent and positive about spending in their adult life. Also, this will help them in their later life when they have to start an emergency fund. Giving them a chance to have some money saved will give them esteem with spending, especially when they’re older. Saving for one’s retirement is a very smart thing to do and starting as soon as possible would be the ultimate goal. 

I advise my friends, instead of spending money on things that we don’t need, start saving for things we will end up needing. 

Julie is a recent graduate of Archer High School in Lawrenceville.

 

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