We talk a lot about budgeting, saving and other personal finance concepts here but there’s one financial tool that can teach kids all of these things in one.
Building a business means kids will need to budget their income, spend wisely on supplies and learn the tradeoff between spending profits or reinvestment.
What Starting My Own Business Taught Me about Financial Responsibility
My parents showed me what it takes to start a business of my own. When I was a baby, they created bank accounts for me and a certificate of deposit because it had a higher interest rate.
What Starting My Own Business Taught Me about Financial Responsibility
Now, I focus on working to save up for next semester's tuition, and thankfully, I am able to make money doing what I love to help pay for college.
Once I graduated high school, my parents pushed me to build some structure to this brand that I unknowingly created. Then I registered my business as a Limited Liability Company.
When I'm not studying for classes, I am working hard on editing videos with my brother, and growing followers across social media.