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This introductory lesson on finances was centered around a reading of "Teaching Teens How to Gain Financial Freedom" and its 7 tips of having a successful financial status in the future.

 fi·nance :noun /fəˈnans/

the management of large amounts of money, esp. by governments or large companies.

T h e  G i s t 

"Teaching Teens How to Gain Freedom", atuhored by Vince Shorb, offers an insight on numerous tips in which will be helpful knowledge in managing your money practically now and to save up for the future. The introductory paragraph is centered around the growing concern of Canadian families as to how their children will fend off in the real world when it comes to managing their money. Strangely enough though, they don't know how to manage it themselves. Financial Literacy is the issue that Vincent Shorb meddles with with his websites and books, and his goal is to help teens to avoid the downfall of debts and also chanelling his engraved knowledge that is necessary to become financially sufficient. He further mentions that many teens of today's generation are unprepared when it comes to their finances, and Shorb would like to empower them with 7 tips. His number one tips is to "learn to distinguish a need versus a want". Though it may be easy to distinguish the difference between them (need is something that you have to have in order to survive and want is something you'd like to have), it is undeniably easier said that done. When you have enough savings after covering your needs, then you may spend a buck or two on something you'd like to have. His second tip is to "dtich costly everyday habits". An example given for this section is to cut down on the coffee. An average person who spends money of coffee five times a week spend over $1 000 dollars every year. Shorb suggests that teens keep a "money diary" to see how much exactly they are spending on every little thing. It is to show that even something like this could accumulate quickly. Shorb's third advice is to "develop a savings plan". Compare how much you spend on one month to how much you earn in a month. Using that information, have a strict monthly budget to help yourself to start saving. Even putting aside $250 could easily make someone a millionaire by the age of 40. His fourth is to "pay yourself first". Be a money rebel and not be a blind sheep following what everyone is doing. If you automatically deposit a percentage of your savings in the bank, you wouldn't even notice it. A savings plan is crucial for financial success. His 5th is "get your accounts in order". You should oppen a checquing account and two savings accounts, one for long-term planning and the other for "fun" money (ie. the things you want now). Not only do you save more, but your also learn the investment basics. Shorbs's fifth advice is to "start investing now". Get saving now and make simple investments! Finally, his seventh advice is to "write our your lifestyle goasls". We are motivated by the things we can buy with money, so it is important to find out what kind of lifestyle you'd like to lead and what you need to do in order to accomplish that. With these tips, you will not come across debt's way and you will definitely open a brighter future for yourself if you follow these advices with dedication. 

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