Too Young to Be Barefoot

Scott,

I do not have a job or any real income, besides weekly allowances and lunch money, because I am only 15. I picked up your Barefoot Investor book (thought it might be an interesting read) and am halfway through, but I can’t really relate because I can’t save up or anything like that. Anyway, my question is, how do I make sure that I never have to turn my life around financially and that I am ready for any financial fires that come my way?

Oscar

Hi Oscar,

Truth is, I get a lot of teenagers who write to me with concerns like yours. Often it’s because they’ve grown up in homes where a lack of money was a big problem. Often they learn what not to do from their parents.But you know what, Oscar?

The cool thing is that it doesn’t matter who your parents are, or where you’re from, or what you look like, or whether you’re good at sport, or how popular you are.

All you need to do is build some ‘million dollar habits’: work hard, save, and compound your money.

Money is the great leveller in life. All you have to do is have at least a passing interest in it, early enough. The fact that you’re reading a finance book and not on Snapchat tells me you needn’t worry about any financial fires. You’re going to tread your own path!

Thank-you for reading!

Scott