Becoming Smarter About Money
By Martin Baker, CFP®, CEPA®
As the parent of teenagers who are thinking about college, I know that exploring schools that interest you can be both exciting and nerve-wracking, which is why the SERF College Fair is such a valuable resource for students.
Fortunately, you’ve got some time to make a final decision.
In the meantime, you’ll want to develop some life skills that will help you when you’re living on your own.
Managing your finances in one of them.
You’ll need to keep track of your expenses and monitor your spending to make sure you don’t zero out your bank account or get into credit card debt.
I know that LSRHS offers some personal finance learning opportunities, and I highly recommend you take advantage of them or find other resources to become smarter about money.
Even if you’re already good at saving and spending money, it’s always good to learn about investing and saving for retirement, college or other purposes. This knowledge will come in handy when you start your first job and have the opportunity to join your employer’s retirement plan.
Developing solid personal finance skills before you go off to college can reassure you that your money is in the best of all possible hands—your own.
Martin Baker is a Financial Advisor and Director of Financial Planning at
Canby Financial Advisors in Framingham, MA.