Is it just me or does online shopping feel unreal? Being that I'm a teenager, I have had the urges to spend more money than I could afford in the past. The biggest thing for me was online shopping because I couldn't quite feel the money leaving my bank account.
My realization that I needed better money management came upon on me in September 2021. Being a dual enrollment student, my community college gave out a relief grant to all students with over 6 credit hours. The grant relief was a total of 1,400 dollars. I was so excited for the money, and at the time I didn't have a bank account. To open up one, I had to start off with 500 dollars. When I received my paper check, I went to the local bank to cash it. I then opened up my account and deposited 600 dollars. I kept the rest of the cash. Once my account was getting low, I slowly started depositing little by little the other 800 dollars.
Truth be told, everything after that is a blur. My money was blown by mid-November. I can't quite remember any big purchases I made. However, I had to realize all those small transactions add up over time. Ordering clothes, purses, jewelry starts to build up when you don't stop and actually count.
After that, I was struggling to put together things for my 17th birthday that was coming up. I didn't have much money to buy an outfit, get my hair done, etc. Luckily, I was able to borrow from my grandma. I paid her back once I received my birthday money from my dad.
I was never taught much about financing, at home or school. Consequently, I didn't quite know that prices for certain things I was buying were definitely out of my financial class range. I still don't quite understand credit but I know it's important to keep up to par for the sake of your future.
Overall, I learned that spending money is like an addiction. I understand now that 1,400 dollars will not take me far if I don't use it wisely. However, I am very grateful for any money that is given to me, even if it's just a dollar!
I plan to use this learning experience forever as I grow up. In the future, I hope to make wiser choices by using my money binder to separate different dollar bills for various things such as bills, leisure time, emergencies, etc. Maybe even getting into investing in a business or even stocks will benefit my financial status. I know that the way I've used my money in the past, I would not survive in college at that rate. I knew it was time for a change. I plan to use money managing tips to ensure a smooth, successful college experience for myself.