- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
Financial Advice you wish you'd gotten as a HS Senior?
Posted on 11/3/15 at 2:26 pm
Posted on 11/3/15 at 2:26 pm
I'm going to have the opportunity to speak to a group of approximately 400 high school seniors and I have the liberty to choose my topics.
What financial advice do you think that any HS senior could benefit from as they begin to enter college/real world?
Initial thoughts are:
how to save/why saving is important
debt pitfalls (car loan/student loans/credit cards)
with a special segment specifically on credit cards
What are the other essentials that they should know?
TIA
What financial advice do you think that any HS senior could benefit from as they begin to enter college/real world?
Initial thoughts are:
how to save/why saving is important
debt pitfalls (car loan/student loans/credit cards)
with a special segment specifically on credit cards
What are the other essentials that they should know?
TIA
Posted on 11/3/15 at 2:39 pm to tigerstripedjacket
I would clarify the types of debt and explain why no all debt is "bad" per se. Students loans can be good debt if it is enabling you to enter a profession that pays well, for example.
Posted on 11/3/15 at 2:50 pm to tigerstripedjacket
quote:
Financial Advice you wish you'd gotten as a HS Senior?
How to make compound interest work for you.
Didn't learn it until I was 28
This post was edited on 11/3/15 at 2:51 pm
Posted on 11/3/15 at 2:53 pm to lynxcat
quote:
enabling you to enter a profession that pays well
Precisely.
quote:
compound interest
good idea
Posted on 11/3/15 at 3:18 pm to tigerstripedjacket
The advantage of building good credit. Start with a credit card with a low limit and pay it off. I always paid cash and graduated college with no credit history and it was a pain in my arse.
Posted on 11/3/15 at 3:23 pm to tigerstripedjacket
Stay out of debt. If going off to college the goal is to get a quality degree that is marketable for the least amount of debt possible. 30 year old them will be quite upset at 18 year old them if they run up a bunch of student debt.
I'd hammer home that money equals time. That along changed a lot of my perspective on money, debt, and stuff. I was never a big spender and I've always been frugal but that took it to another level for me.
I'd hammer home that money equals time. That along changed a lot of my perspective on money, debt, and stuff. I was never a big spender and I've always been frugal but that took it to another level for me.
Posted on 11/3/15 at 3:24 pm to tigerstripedjacket
I wish I knew what a Roth IRA was going into college. I could have easily maxed that out working through college, rather than not starting it until I was 23.
Just those 4 years would have added another $500k in my Roth at 60.
Just those 4 years would have added another $500k in my Roth at 60.
Posted on 11/3/15 at 3:40 pm to tigerstripedjacket
Rule of 72, X-curve concept
Posted on 11/3/15 at 3:53 pm to tigerstripedjacket
"Rise early, work hard, strike oil." - J. Paul Getty
Posted on 11/3/15 at 5:38 pm to tigerstripedjacket
How compounding interest can affect their future savings. I taught the topic to a bunch of eight graders while in college and the majority were clueless. I imagine that is the case in high school as well.
I don't know if the teachers will be too happy, but I don't think many of my fellow classmates understood the future implications of some of the student loans they took out. Many had parents footing the bill, but for those who didn't, they could have used some advice.
I would also talk about how it's easier to start saving now then later. Make it a point to put away 10%-20% at their minimum wage or summer jobs now. As they progress career wise, they will be more disciplined in their savings.
This is off topic, but I would advise them to get a job in college no matter if they have to or not. I didn't for my first 2 years and looking back, I was stupid to not have. My school and rooming was paid for by a scholarship and I could have been making good money even at a low paying job.
I don't know if the teachers will be too happy, but I don't think many of my fellow classmates understood the future implications of some of the student loans they took out. Many had parents footing the bill, but for those who didn't, they could have used some advice.
I would also talk about how it's easier to start saving now then later. Make it a point to put away 10%-20% at their minimum wage or summer jobs now. As they progress career wise, they will be more disciplined in their savings.
This is off topic, but I would advise them to get a job in college no matter if they have to or not. I didn't for my first 2 years and looking back, I was stupid to not have. My school and rooming was paid for by a scholarship and I could have been making good money even at a low paying job.
This post was edited on 11/3/15 at 5:40 pm
Posted on 11/3/15 at 6:57 pm to jclem11
If going off to college the goal is to get a quality degree that is marketable for the least amount of debt possible. 30 year old them will be quite upset at 18 year old them if they run up a bunch of student debt.
-----------------------------------------------
Huh?
-----------------------------------------------
Huh?
Posted on 11/3/15 at 7:04 pm to tigerstripedjacket
"Here's the stock market returns for the next 6 years. Use whatever money you can find to invest based on this knowledge. Oh, and take out a mortgage to bet on the Saints to win the superbowl in 2009.
Posted on 11/3/15 at 7:06 pm to tigerstripedjacket
quote:
Advice you wish you'd gotten as a HS Senior?
Frick all the chicks you can
Posted on 11/3/15 at 7:08 pm to lynxcat
quote:
I would clarify the types of debt and explain why no all debt is "bad" per se. Students loans can be good debt if it is enabling you to enter a profession that pays well, for example.
Not in today's college cost environment
Posted on 11/3/15 at 7:41 pm to Mr.Perfect
The concept of personal responsibility.
Posted on 11/4/15 at 8:00 am to tigerstripedjacket
Honestly, I got a lot of good financial advice when I was that age, but I ignored a lot of it. HS seniors are pretty thick headed and think they have the world figured out. Better to make the presentation interesting as it's doubtful you'll get through to any of them.
Posted on 11/4/15 at 8:44 am to Mr.Perfect
What does that mean... "not in today's college environment"?
Posted on 11/4/15 at 8:54 am to tigerstripedjacket
Show a bar graph comparing the cost of a condom compared to child support!!!
Popular
Back to top
Follow TigerDroppings for LSU Football News