how to become financially independent (for teenagers)

how to become financially independent (for teenagers)

we got to know teens are going through a dilemma of ‘how to be financially independent and we’re here to help you hack it with impressing our crush to keeping up with all the modern gadgets and beauty products, we all need mo’ money, right? especially the ones who are in the prime of their lives.

not just teens but having financial freedom is still a dream for many folks out there. even if you have the money flowing in, we’re usually not able to manage it properly. so if you’re someone who is looking for a magical spell on how to become financially independent, we have somethin’ for you

here’s 9 laid back habits that can help you, so without any further ado, lezzz go!

  • have a goal
  • create a budget
  • make sure to pay your bills every month
  • always pay yourself first
  • start investing
  • have a source of income
  • try living below your means
  • negotiate, negotiate and negotiate
  • get an akudo card

1. have a goal

you can’t achieve something that you aren’t sure of, right? so the first step is to set a goal for yourself. why do you wanna have financial freedom? how free do you wanna be and how exactly are you planning to achieve it Honestly, your lifestyle determines the majority of your goal, adjusting accordingly will help you take a step closer to achieving the goal. write it all down to have a clearer picture of your goal flow.

2. create a budget

usually creating a monthly budget is the best way to track your expenses. when you know how much money are you making every month, how much are you spending etc, you have some room for saving This way you won’t end up spending on stuff you don’t really need.

3. make sure to pay your bills every month

once you have the habit of splitting your bills, you start making that your habit. even if you have money, you’d feel the need to divide the bill and eventually end up splurging the extra money. and the money is like “I’m outta here” before you even know, so friends always make sure to pay your bill on time.

4. always pay yourself first

are you constantly questioning how to be financially independent? well, one of the most important steps is savings. Whenever you receive your payment, make sure to lock in some part of the amount before you go gaga on the entire money. Someone created the option for ‘auto savings’ cause they knew we’re super emotional and we’d end up using the entire money so the next time you receive the money in your account, the bank would lock it and send it to fixed deposits.

5. start investing

money sitting in your account isn’t the answer to ‘how to be financially independent. however, when you start investing, you are actually growing your money. honestly, this is quite literally the best way to earn money easily. all you gotta do is find the right place to put yo’ money at. today, you have more options than ever. You can simply explore magical crypto or find a stable stock that can provide you with good gains.

Always make sure to diversify a lot. Do not keep on investing in one project only because it has caused you some gains. Having a diversified portfolio is as cool as having a fancy sports car today! You can also check out the top 13 cheapest cryptos to invest if you’re looking for some help.

6. have a source of income

lol, we hate to break it to you but yeah, here comes the toughest but the leg of how to be financially independent. Yep folks, you gotta earn! Only then you can afford to dine in at all the cool places you put the IG story about.

a great man once said, if you’re good at something, never do it for free. making money is honestly easy with all the resources that we have. you can simply sit on your couch and write a blog or create a design or two. Influencers, artists, freelancers the door is wide open my friend, you can just choose wherever you wanna go.

7. try living below your means

It’s a habit, when you start splurging, you just keep on splurging. it’s like a never-ending circle, no matter how many clothes or sneakers you have, you always see a new one and well, wanna buy it this is where you gotta be hard on yourself, no you aren’t going to wear those extra pairs of beach shirt you just bought.

try cutting down your expense before it cuts down your savings. You can try spending on the things you really wanna have and get good riddance from the things you’re buying for fun.

8. negotiate, negotiate and negotiate

never underestimate the power of negotiation. whether you are shopping or you’re asking your old folks for your pocket money, make negotiation your habit. you start looking for better deals, services when you have the will to save some bucks.

The art of negotiation is a must when you are looking for how to be financially independent. now this is where girls get to use their superpowers at it’s best.

9. get an akudo card

of course, we saved the last hack to be the best one. how do you feel about getting paid every time you pay, sounds impossible? well, not anymore. every time you make your payment via the akudo card, you would get rewarded. From now on, shopping is all about cashback and offers.

how to get Akudo card? Download our app, sign in with your details and voila! you’ll be all set. you can also manage your expense and save a lot of bucks in the easiest way possible. so were you asking the genz friendly way of how to be financially independent? Well, this is the smartest option you have.

ending on a lite note,

so, folks we’re no financial gurus but hey, experience over anything else, no? now that you already know these 9 ways to become financially independent, what are you waiting for? take out a pen and a diary today and make a note of your expense. and remember, you don’t have to go too hard on yourself. treat yourself every once in a while to keep yourself going.

we know teens today are all about breaking norms so why not break the stereotype of teens being far away from finance? After all, money is for everyone. and we teens are just smart with our money, we’re here to show it to everyone.

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