4 Ways for Teens to Avoid Financial Stress

By Malaika Charrington

Being a teenager is hard enough without all these pesky bills. Sometimes it seems near impossible to be a teen juggling work and school, and an active social life, all while swimming in expenses (car bills, gas, food, etc). It can all be exhausting. It often feels like there’s not enough time to do all the things that need to be done, and earn the money that you need for all of your expenses.

Well, here are a few tips to alleviate some of the pressure.

1. Manage your time wisely.

Learn to plan your time well to allow for all of your daily ventures. Have a reliable, yet flexible schedule with your work hours, the time you dedicate to schoolwork, and your social events. This will organize your life, and allow you to focus on one task at a time without that pesky anxiety. Planning your time well will ultimately allow you to maximize your profit, academic success, and free time.

2. Budget your money well.

This is one that you’ve probably heard tons of times by now. Well, that may be because it works! Just grab a piece of paper, and list all of your monthly expenses and how much each item will cost you. First, list the necessities, such as gas, bills, and savings. Next comes the math! Subtract your budget’s grand total from from your monthly income, and that’s how much you can spend! This will keep you from splurging on things you don’t really need and/or can’t afford. Need help on budgeting? The first rule of budgeting is spend less than you earn! If you earn $450 a month from your job, and earn another $50 from your allowance or birthday money, your income for the month is $500. If your savings account earns another $5, your total income is $505. Now you know that you have to spend less than $505 for the entire month.

3. Open a bank account.

Avoid check-cashing establishments to the best of your ability. But you have more time than money so fight the urge to spend your money for this type convenience. They may seem convenient, but you shouldn’t get into the habit of using them, as the average adult spends up to 900 dollars a year cashing their checks. This is an unnecessary expense that could be avoided altogether if you open a bank account. Research the banks and credit unions near you and find one that works for you! (Most banks are free, but require you to deposit a minimum balance when you open your account. These minimum balances typically range from $1 to 50. Find the one that works best for you).

4. Don’t drown in your expenses.


Finances have led to stress for many, and stress leads to health problems. Don’t allow finances to control your life in a negative light. You have the power to make the best out of your cash and live financially free.

Take these 4 tips into your own hands and flourish!