Recently we taught a group of high school students all about saving money, budgeting, debt & investing.
After each lesson, we asked them for their takeaways. Today we're going to bring you their takeaways that you probably should know but may not be practicing.

Even if you make more money, don't spend more money
Put your emergency fund in a money market
When you get a raise, your investments get a raise
Don't ever take money out of your investments
Put your goals on paper, they are more feasible than you think
You can be completely debt-free your entire life
Investing is really important

In this episode we also cover:

How to avoid lifestyle creep
Where to put your emergency fund so you can make more than .01% interest
How to make your money work for you
The difference between a starter emergency fund and the fully funded emergency fund
The difference between the checking account, savings account and the money market account when it comes to your emergency fund
The compound interest that you’re paying in debt versus earning in investment
How to be a good investor (ie. don’t stop / start & never pull from investments)
Why writing goals on paper makes a big difference
How you can be your own bank
How helping your kids learn to save will serve them WAY better than a credit score
How building a credit score is NOT what we want to teach our kids
How to completely change your kids’ financial future


IDEAL BALANCE: How to Budget, Get Out of Debt, Save Money + Financial Systems to Organize Your Money
Even high-achieving, Jesus-following moms need help organizing their finances. We want to help you learn how to budget, how to get out of debt & how to save money. We do this through 1-on-1 coaching where we teach you how to stop stressing about money & install systems that automate your finances. Once you have these money systems, you’ll be able to live debt-free, build wealth & achieve financial freedom. Join us to ditch the bad money habits & take control of your financial future.
Shana & Vanessa are best friends, business partners & Ramsey Solutions Master Financial Coaches.
Get the 7 Money Systems Our Client Used to Pay Off $17,591 in Debt and Save $23,000 in 7 Months Workbook Here: https://ck.myidealbalance.com/7moneysystems
Connect With Us:
Website → https://myidealbalance.com
Podcast → https://anchor.fm/idealbalance
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YouTube → https://youtube.com/@IdealBalance
This episode is also available as a blog post: http://myidealbalance.com/2023/03/06/5-things-high-schoolers-know-about-saving-money-that-you-might-not/

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