Basic Finances
Financial advice for young adults from their perspective.
Who Am I?
My name is Evan Creswell. I am currently a Junior in high school at the time of writing this. Over the past few years I've been interested in finances and I want to inspire others my age to become more financially aware.
How An Allowance Can Change Your Life
First off, if you don't earn an allowance ask for one! If you go up to your parents and say "I'll do the dishes, laundry, take out the trash, and vacuum for 5 dollars (maybe even $10) a week" I don't think they would deny you. Remember at this age any money is good money. Think about it this way, if you earn a $5 weekly allowance you would earn $260 a year ($5x52weeks). Now what if you asked this when you were 13 going into 8th grade, by the time you graduated high school you will have earned $1300 just from allowance ($260x5years). If you got a $10 dollar allowance you would earn $520 a year and $2600 over the course of 5 years. That's enough to rent a high-end New York City 1 bedroom apartment, a (cheap) used car, even enough to buy a Super Bowl ticket!!! I don't recommend you spend all your money in one place but I do recommend you ask for an allowance ASAP!