Money Tips For Teenagers: Money Advice Teenagers Need To HearSo when I first got “inspired” to write a blog post titled “money tips for teenagers”, I said “yes that would be an easy thing to write. I have just come out of my teenage years”….. Hmmm hold on, no I didn’t, my teen years ended 6 years ago!!! WOW! Time sure flies!

Just let me say something first: Being a teenager is fun and all but before you know it, you’ll stop being one, then a few “moments” after you’re celebrating your 21st birthday already, congratulations… welcome to adulthood. It will only get more difficult from here! LOL just kidding…

When I was a teenager, I thought I will be a teenager for ever, which would be ideal but unfortunately things don’t work out like that in life. I made a LOT of bad decisions money wise (even not regarding money) just because I kept that mentality, even though I knew it was not like that.

You might not have a lot of money right now or you might have some already! Either way you need to start managing your money like an adult, better than adults if possible!

Real life is coming for you. Your 20s and 30s will be eventful! You’ll do a LOT of things that require solid finances.

Things like marriage, buying a house, starting a business etc all may seem like a lifetime away, but trust me: they are not!

Anyways, let’s stop this never ending lecture here so I can share with you some tips that will hopefully be of some value to you and will maybe help you have money in the future.

7 Great Money Tips For Teenagers: Advice You Don’t Want to Hear!

Avoid Bad Habits

Let’s take smoking: I used to smoke in my teenage years up till the age of 24. That’s about 6/7 years of smoking, believe it or not that is close to €10,000! I don’t know about you, but I am sure that if I saved all that and have that type of “extra cash” at hand, I would look much cooler.

The Technology Vice

Ok, I love the new iPhone as well. But do you REALLY need it? I know it’s hard but would it kill you to not buy the latest gadget? The one you have is still perfect fine. Save yourself the $.

Oh btw this “addiction” doesn’t get any better when you get older, I’m really fighting the urge to get an iPad Air right now! LOL


Invest in whatever takes your fancy, take risks. You are probably at and where you don’t have the finances to invest capital but that shouldn’t stop you. Invest in yourself, invest in your passions. Decide what you’re after in life and go all-in. Again.. take risks. You’re at an age where if something goes wrong, it is still a major win win for because you have all your life in front of you.

Start a Savings Plan

Boooo how boring! First “investments” and now “saving plans”. Yes I know these do not sound like much fun for a teenager but just look at it like this” The more you save now, the more you have later! It’s just easy as that. Save 10/20/50 a week. Anyting. Just save!

I didn’t do this, take it from me: it sucks being in your 20s and not having a safety net in the bank!

Work Hard

Hard work shouldn’t be something you’re ashamed of. Work two jobs, work weekends, take extra shifts, just do it. Make as much money as possible. Why? because you can! Then what? Invest that money in yourself and/or start a saving plan! 😉


Budget your income so that you’ll always keep track of your expenses. Being young and having “a lot” of cash is very dangerous. Sit down and plan your finances wisely, track your expenses. I use this great free app for that.

Have Fun

You’re a teenager after all! 🙂 Now that you have money and a budget in place, you can splurge every now and again. Who cares!? It’s not like you have a family to feed or a mortgage to pay…. yet!

You may think that my tips are a bit “harsh” and “exaggerated” but why not prepare yourself at a young age for the challenges of adulthood?

If you follow these few steps you’ll be the most “ready” 19/20 year old out there! You’re ready for the future equipped with a comfy sum of cash and a ton of knowledge while your friends still have no clue whatsoever.

All you have to do now is close the chapter on your teen years and start a new one, this time it gets serious.

I wish I could say to you: “Look at me, I did it like that and now I’m this” but I’ll be lying. As they say: You have to be young and stupid to be old and wise.

Now I’m not old LOL but I am wise-er than your average teenager because I lived through that and now I know what I could have done differently.

Thanks for tuning it, hope your enjoyed my tips! Feel free to drop us a comment below, I would love to hear from you and how you’ll be applying these tips 🙂

See more money saving tips here!

Chris Lee Vella

Psssstt!!!  Before you leave, make sure to check out this awesome guide I found teaching teens how to really take control of their money! 

Chris Lee Vella
Chris Lee Vella

Hi, I’m Chris Lee. In September 2013 I decided to quit my job to focus on building up my business. Glad to say that till now all is going well and I think I made the right decision but it’s only because I have learned how to properly manage my personal finances.