MAGIC & MONEY future
Adolescence is a time when teenagers often face turmoil and obstacles. As they grow older, their mindset and responsibilities increase, including financial matters. Teenagers gradually learn to manage their own finances. Maintaining financial stability is very difficult for teenagers due to the many obstacles that lead to uncontrolled spending. Therefore, it is important for teenagers to develop a well-planned budget. Nowadays, some teenagers prefer to have fun rather than consider the consequences. Often, teenagers have money, but it quickly disappears due to lack of self-control and the temptation of lust. Developing a budget from adolescence is like building a solid foundation for the future.
A financial budget is a detailed plan of income and expenses over a specific period. This ensures a more organized and clear financial record, preventing economic instability. With a budget, we can better control our finances. The habit of budgeting during adolescence helps prevent debt and installment payments, thus reducing the burden of a burdensome financial burden. Budgeting also has other benefits, such as developing a more disciplined character in teenagers. Teenagers also become aware of the importance of working hard to achieve something. For example, if a teenager wants to buy something, they will inevitably consider how to save or manage their finances to afford it.
There are also many obstacles, such as the “between saving and you only live once” mindset, and teenagers who prioritize wants over needs. This can make teens uncertain about their decisions. Having a budget can make these issues easier to resolve. Teenagers can start budgeting by recording their income and expenses. They can also create a table for easier access. Next, list their needs and wants, prioritizing them. Create a plan for future expenses, such as food, internet, transportation, and so on. Continuously monitor the budget and evaluate any changes to prevent budget leaks. Repeat this process until budgeting becomes second nature. This evaluation helps teenagers gain experience managing money and using it effectively. These teenagers will develop a planned mindset and be able to see the future. This budget also provides a long-term, planned solution for teenagers to manage their finances.
Learning to budget is beneficial and fosters sound, well-planned financial management skills. By understanding income and expenses and prioritizing needs over wants, teenagers can manage their profits wisely. The benefits of a budget are not only financial but also beneficial for improving their character and mindset. Budgets can also be used in critical situations when teenagers urgently need money. With a budget, teenagers no longer need to worry about losing control of their finances. We all know the importance of budgeting from an early age. Let’s work together to manage our money wisely to avoid future worries.
Managing our finances wisely from adolescence onwards teaches us how to manage our finances effectively and minimizes the challenges we face in life. We can avoid confusion when faced with life’s challenges, as we already have stable finances, a result of saving from adolescence. Saving from adolescence offers numerous benefits, especially for ourselves. The importance of instilling savings from adolescence can be a valuable lesson for parents to pass on to their children.
By : Ananda Miftaqul Jannah
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