Top 10 Financial and Life Advice for High School Students

Dear 16-year-old high school student, it's a privilege to share valuable insights and advice that have helped me throughout my journey. Though I didn't come from a wealthy background, I worked hard to achieve my current status. Below, I'll share 10 pieces of advice that will guide you in achieving your financial and life goals.

Understanding Your Most Valuable Resources

I want to emphasize that the two most important resources you have are health and time. Treasure both! If you maintain good health and prioritize time, you are rich. Your goal should be to sacrifice the least amount of time for money but never, never!, sacrifice health for money.

Invest in Your Personal Growth

Invest in your personal growth through reading, traveling, and cultivating yourself. No one likes a dull, empty person, not even those with money. Pursue at least one sport, practice one instrument, and continuously learn new skills to enrich your life.

Delay Starting a Family until Your Thirties

Avoid starting a family before your 30s unless you are financially independent. Financial independence means you are self-employed, own your business, and can support (and possibly even two) families without working for others. Understand the difference between being financially independent and financially free.

Execute with Passion, Love, and Respect

Whatever you do, do it with passion, love, and respect for yourself, the environment, and others. Abundance in life is a byproduct of these values.

Build and Maintain a Good Credit History

Keep a good credit history and only borrow money to make more money. Good credit allows you to borrow at lower interest rates. Your goal is to become your own bank, financing all your projects efficiently.

Be Honest and Trustworthy

Your word is your bond. Always keep promises and never lie or cheat. The results of your journey will be based on your actions.

Set and Achieve Goals

Set short-term, medium-term, and long-term goals and work on them every day. Consistency and patience are key to success. Every little bit counts, so keep moving forward.

Stay Curious and Learn Continuously

Embrace a learning mindset and surround yourself with people who can teach you. Share your knowledge when you can, as learning from others and helping others is a valuable cycle.

Learn to Fix and DIY

Try to fix things yourself before paying someone to fix them. This will help you gather experience and build a sense of accomplishment. Always keep your tools organized and maintain them to avoid wasting time and money.

Understand Compound Interest

Money is a science, and compound interest is its most crucial aspect. Before investing, always pay off debts first. Once your finances are stable, invest in real estate or the stock market. Remember, generational wealth comes from understanding compound interest. Invest in your financial education and make it work for you and your future.

By following these 10 pieces of advice, you'll set yourself up for financial abundance and a fulfilling life. Remember, the best thing that can happen to a human being is another human being. Good luck and Godspeed on your financial journey!