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How To Send and Receive Money if You’re Under 18?

Posted on February 23, 2021by Kathryn Vercillo
Send and Receive Money Under 18

You’re in a bind. You need to receive money quickly but you’re under 18 so many of the money apps don’t work for you. What do you do? Even if it’s not a dire situation – for example, you just need to give money to a friend for your share of lunch – it’s important […]

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Frugal’s Financial Guidelines

Start with these simple guidelines to save money and invest in your future:

  1. Write down own the top three reasons you want to save money. Post it as a reminder to keep on track with your goals.
  2. Learn to budget. Then do it, diligently.
  3. Cut costs. Reduce spending by 10% across all categories.
  4. Direct deposit 10% of every paycheck directly into savings. Build up an emergency savings fun with a minimum of $1000. Aim for six months of living expenses.
  5. Maximize retirement savings. Contribute as much as you can, especially if you have an employer-matching plan.
  6. Begin investing in small ways. Use apps to begin investing with just a tiny amount of money. Learn how it works.
  7. Build credit wisely. Use a credit card for monthly expenses. Pay it off on time every month.
  8. Learn to communicate about money. With everyone. The better you get at talking about money, the more you’ll set yourself up for financial success in all areas of your life.

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