{"id":16328,"date":"2017-08-10T07:00:51","date_gmt":"2017-08-10T12:00:51","guid":{"rendered":"https:\/\/www.hrblock.com\/tax-center\/?p=16328"},"modified":"2024-04-29T16:10:51","modified_gmt":"2024-04-29T21:10:51","slug":"10-back-to-school-money-tips-for-teens","status":"publish","type":"post","link":"https:\/\/www.hrblock.com\/tax-center\/around-block\/our-purpose\/10-back-to-school-money-tips-for-teens\/","title":{"rendered":"10 Back To School Money Tips for Teens & Young Adults"},"content":{"rendered":"

With back-to-school shopping in full swing and a new school year around the corner, now is the perfect time to get educated on ways to stay financially fit throughout the school year. Whether you are headed to college, finishing up high school, or are a parent of a teen, the following tips will help you get educated on some back-to-school money tips and strategies to stay financially fit throughout the school year! Read on…<\/p>\n

    \n
  1. Download a money-saving apps. <\/strong>In fact, H&R Block launched a mobile banking app to help you make the most of your tax refund, get paychecks up to two days early, and earn cash back rewards at select retailers. Learn more about Spruce<\/a>.
    \n<\/strong><\/li>\n
  2. Make a budget.<\/strong> H&R Block has many budgeting tips and resources<\/a>. With a budget, you can see where money is coming and going, and filter out unnecessary expenses.<\/li>\n
  3. Use a prepaid credit card.<\/strong> It\u2019s a good way to test the waters before\u00a0getting a real credit card. Plus, you can avoid the heavy interest that can accrue over time with unpaid credit card balances.<\/li>\n
  4. Set up a savings account.<\/strong>\u00a0Set up a savings plan for the school year where 10% of your paycheck or allowance goes into savings. This is the number one element necessary for financial well-being.<\/li>\n
  5. Get visual and\u00a0put a picture of a future goal (like a car) in your wallet or backpack. <\/strong>This way, you’ll be\u00a0reminded of your savings aspirations every time you\u00a0go to spend money.<\/li>\n
  6. Do your research… when it comes to school expenses and books.<\/strong> Online retailers often offer discounted textbooks and school items.<\/li>\n
  7. Create a rainy-day fund.<\/strong>\u00a0You might unexpectedly lose your job, experience a medical setback, or simply be overwhelmed by school expenses. Prepare today by creating an accessible emergency fund.<\/li>\n
  8. Discover tax credits\u00a0available to you.<\/strong> As a student, you may be entitled to specific tax deductions and credits<\/a> like the Lifetime Learning Credit and the American Opportunity Credit.<\/li>\n
  9. Did you know that some school expenses are tax deductible?<\/strong> Learn what school expenses are tax deductible.<\/a><\/li>\n
  10. Make money a priority.<\/strong> Managing your finances is a skill that will set you up for success for a lifetime. To start on your journey to financial fitness, take the H&R Block Budget Challenge.<\/li>\n<\/ol>\n

    Hopefully this article gave you insights on money tips as teens or young adults.\u00a0View more budgeting and financial education\u00a0resources from H&R Block Dollars & Sense, an initiative that helps\u00a0teenagers learn about personal finance topics. <\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

    With back-to-school shopping in full swing and a new school year around the corner, now is the perfect time to get educated on ways to stay financially fit throughout the school year. Whether you are headed to college, finishing up high school, or are a parent of a teen, the following tips will help you […]<\/p>\n","protected":false},"author":418,"featured_media":16334,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[23,32],"tags":[],"class_list":["post-16328","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-around-block","category-our-purpose"],"acf":[],"yoast_head":"10 Back To School Money Tips for Teens | H&R Block blog<\/title>\n<meta name=\"description\" content=\"It's back to school time. 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