Tue, October 15, 2019

Survive or Thrive

I got a teen survey from a friend, and I was disappointed. I know this survey is reliable, because it’s prouced by Charles Schwab (2nd best stock broker out there that I know).   I’ve narrowed it down to the nitty-gritty:

(quoting the survey) “79% of teens realize that money matters are different today than they were when their parents were teens.” That is an encouraging note, right? Let us go on, shall we?

“89% of those surveyed said they wanted learn how to make their money grow.

65%think that learning about money is interesting.

60% say that learning money management is one of their top priorities.”

Teens are motivated to learn about money for either:

  1. Paying future bills
  2. Staying out of future debt
  3. Not relying on others for money.

You are probably thinking, “Hey, teens DO actually care about money!”

In reality, many teens care about having money, not actually learning about it.  You are different since you are reading this article!

Many teens want to buy stuff, pay their bills and stay out of debt without a high interest loan. That is where the problems come in: teens shouldn’t use money to survive; they should learn how to make their money thrive!

As the book “Do Hard Things” says, we teens are burdened and held back by extremely low expectations that society places on us.  However, the teen years can be the best years to start a business.

For instance, many businesses flop because of too much overhead (that is money to run things like an office, electricity, phones, web connection and all those things).   Well, as a teen, your parents are taking care of you, so you have virtually NO overhead to start with. You have time to set up and learn as fast or slow as you want with no pressure from keeping up with business expenses.  The only overhead you might have to pay is web hosting  for a website, a lwan mower, ingredients for baking, or whatever.

A survey can be a good wake-up call for teens. I’m going to do more research on this subject, and offer plenty of tips to help start a business.

(article written by Rober!)

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2 Comments to “Survive or Thrive”

  1. J-Rod says:

    Avoiding overhead is a nice advantage. Passive income could be a great direct way to deal with that.

  2. TBC says:

    The good thing about passive income is as it starts to roll in, you do less and less work for more and more money. It grows exponentially.


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