5 Finance Tips Every Boy Should Know Before Turning 18

1. Start Saving Earlye 

1. Start Saving Earlye 

Saving small amounts today can lead to big rewards tomorrow.

- Save at least 20% of your pocket money each month. - The habit of saving will help build a financial cushion for the future.

 2. Learn How to Invest

Earning money is only the first step. Knowing where to invest it is the next big thing.

- Learn the basics of Fixed Deposits (FDs), Mutual Funds, or Stock Markets. - Understand the power of compound interest to grow your money.

  3. Track Your Expenses

  3. Track Your Expenses

Where your money goes is just as important as how much you make

- It’s easy to spend on unnecessary things if you're not paying attention. - Use an app or a notebook to record daily expenses and keep a budget.

  4. Understand Debt

Taking a loan may seem easy, but repaying it can be a real challenge

- Avoid unnecessary loans or credit card debt. - Learn how interest rates work so you don’t get trapped in debt.

If you want to achieve something, financial planning is key

5. Set Financial Goals

5. Set Financial Goals

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- Set both short-term and long-term goals like saving for a bike in 5 years. - Planning your financial steps will give you freedom and clarity in life.