“To be able to hold onto your money you have to know how to manage it. Money management is a complicated process. As teenagers we often have no idea how to manage money and we end up wasting a lot of it. But in a bad economy most of us have had a crash course in what happens when you don’t manage your money properly. We have had to delve into a world foreign and unfamiliar to us and solve our own money problems. The most successful of us have managed to still have some semblance of a social life without going over our small budgets. The keys to doing this successfully are actually quite simple. Set up your own budget of expenses. Teenagers may not have to worry about paying a mortgage or rent but we do have to be able to pay for gas, insurance for our vehicles, and the never ending list of project expenses and supplies for classes. So you have to sit down and balance what you spend in a month with what you actually make, and whether that’s the money you get for your birthday that you manage to stretch with help from mom’s pocketbook or it’s the minimum wage that you get from the local fast food joint where you have managed to find employment the money comes from somewhere and it needs to be written down.
Check with your state’s higher education authority to see what kind of assistance is available. Many states provide excellent scholarships and grants and often have special categories of award for women going back to school, minorities, and people with disabilities. Be sure to follow all application procedures and deadlines. Many colleges will not make up for state grants lost to students though late applications. Additionally, many states and private colleges administer need-based institutional funds that help round out financial aid awards.