Managing money as a teen.

I'd say, spend it wisely, wouldn't bother saving it if you're a student (assuming university possibilities?)
You'll need it at uni, and it'll be a god send at times.

I had a fair bit more than that starting uni, and I surprised myself at how fast money can be spent without good control.

But like what has been said, do with it as you please, if you can cope with not using it-save it, if you need money-spend it.

I spending it means you can have an awesome experience, the go for it!
 
God I would do. Many differnt things.

But money wise, every time you have a job, put £100 a month into an isa that needs several months to access and just keep it up. Or a shares isa if you want some risk. That way when your 27ish you'll have a ~10% deposit depending on area.
If not you'll have a bucket load to go traveling on.
 
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Enjoy it but dont go crazy. If you are doing 3-4 years at uni id say with some certainty that in those few years something somewhere will happen where you need money in an emergency. (housing related usually) so enjoy yourself, save a bit as backup.

Also NEVER EVER visit the "This week only" thread. EVER.

I did...
 
You live with your mum and dad?

Move out. That's easily the best thing that you can do at your age. Sod saving money, become your own person and move out.
 
^ agree. Although its vastly more expensive, just get it done. The sooner the better and while it might be a bit rough without mummas home cooking and washing/cleaning/nagging its well worth it in the long run.
 
One thing I will say. In all my many many years I have never heard anyone say "I wish I had travelled less"... I myself have never left the country and dont see the appeal, but I am in a very small minority.
 
Plenty of time for moving out during uni. For now keep doing what you're doing and saving.

Though, when you turn 18 that will become more difficult, I promise! When you do start going out more regularly try and keep a check on how much you're spending a week. I rinsed my savings at Uni just by saying yes to a night out a little too often.
 
Stash as much cash as you can while your living expenses are low. That would be my advice. That's what I did and have no regrets over it.
 
Save a little (within reason) and never borrow money that isn't yours.

Saving is never a bad thing however remember that you have your whole working life ahead of you. Enjoy some of the finer things in your younger years. Nice clothes, meals out, trips etc. As when you get older these become fewer and far between.
 
I think you have the right attitude. However, don't let it spoil your fun as a young man either. However, syphoning some money aside as and when you can into savings is well worth while, possibly an ISA.

However, put money aside for a social life/car/holidays with friends etc... :)
 
I'm 22, just graduated and got a job lined up for next week so I'm about to join the real world. When I was 17 I worked part time in Sainsburys which paid for my beer and good times and driving lessons, whilst I was at college. I don't regret spending my money. Right now, I don't wish I had saved more. I'mglad I did, you won't be able to earn money whilst having 0 outgoings a month again, so do it whilst you can!

If you already drive spend your money on holiday with mates and the aforementioned drugs and hookers. If you can't drive, get driving lessons! That is the only thing at 17 you need to 'invest' in really...
 
I was pretty sensible with money at that age and recognised that I'd never have a better time to spend it. So I saved.. to blow it all during summer every year. The money I saved while I was 17 paid for a 5 week trip around Europe and saw me through most of my first year of uni (and another weekend in Florence during that time).

I have a sort of philosophy that money is never wasted if it's spent on self-improvement and so I don't feel guilty buying items/experiences that would improve my skills or personality. I'd say travelling has been a key part of my personal development. I travelled quite a lot from the age of 16 through till the end of uni and left uni with no money or regrets.

Actually, I have one regret: Not learning to drive earlier. I'm currently 25 and looking into it now and surprisingly, it's pretty hard to save for stuff like this when you're older - and I'm not paid badly!

So in conclusion: Use your money to improve yourself and worry about adult life when you're really an adult. It sounds like you have a good head already and that will serve you well financially in the future.
 
I wanted to move out years ago, i even have a job and still cant afford to move out without being a complete wage slave.
 
yhack said:
Woah, stop right there! Why are you saving for a house at 17?! Go out and buy cocaine and hookers.
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:D

Go travelling, live with your parents until you have a steady job and a big wedge of money and after your education take some time out for you, don't jump straight into a full time job, there is plenty of time for that when you're older.

As somebody else mentioned, nobody ever said "I wish i'd travelled less and worked more".
 
Zephyz said:
Whilst the thread is here, any members want to post anything wise such as life lessons or something they wished they did so us younger members can do. Something you regret not doing when you were my age.
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Spend it becoming a skiing instructor, or a diving instructor. It's worth it for the experience.
 
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