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Financial Finale

As this season of LOUDwomen blogging comes to an end, it is time to conclude everything that has been taught. As you all know by now, financial literacy is crucial for achieving long-term financial stability and success. It encompasses a wide range of topics, including budgeting, multiple income streams, investing, and planning for the future. By understanding these concepts, individuals can make informed decisions and take control of their financial well-being. Unfortunately, many schools do not teach these vital topics and us teenagers are left stressed about what we’re going to do financially in the future. Finance can seem scary and sometimes it is, but when it is simplified the process is more appealing. So, don’t be afraid to explore the unknown! Below are condensed versions of the most valuable financial topics. Enjoy!

Budgeting and Multiple Income Streams

Budgeting is the foundation of financial literacy. It involves allocating your income towards essential expenses, savings, and discretionary spending. One effective approach is the 20/40/40 rule, where 20% of your income goes towards savings, 40% towards necessities, and the remaining 40% towards discretionary expenses and debt repayment. Feel free to review my earlier blog posts if you want to know more!

In addition to your primary income source, exploring multiple streams of income can provide financial flexibility and security. Side hustles, such as babysitting, tutoring, or offering services like lawn mowing or car washing, can supplement your primary income. Passive income sources like affiliate marketing or creating digital products can also generate additional revenue. These are all great sources to check out, but remember that it’s important not to take on too many things at once! Baby steps are valuable; they still put you in the right direction!

Understanding Employment and Income Sources

It's essential to understand the different types of employment and income sources. Regular jobs, often referred to as W-2 employment, provide a steady income and may offer benefits like retirement contributions or health insurance. Side hustles, or gig work, can be an excellent way to earn extra income and gain valuable skills. 

To market your services effectively, leverage platforms like neighborhood social media groups. Building a strong online presence and networking can also help attract potential clients or customers. Canva is a great platform to utilize if you want to make posters!

Planning and Goal Setting

Once you have a handle on your income and expenses, it's crucial to set financial goals. The SMART (Specific, Measurable, Achievable, Relevant, and Time-bound) goal-setting framework can help you create concrete and actionable plans. Writing down your goals can also increase your chances of achieving them. For all the readers out there, the self-help book Atomic Habits by James Clear is a great read!


Investing is a powerful tool for building wealth and achieving financial freedom. It involves allocating your money into various assets, such as stocks, bonds, real estate, or other investment vehicles, with the goal of generating returns over time. Check out the Fidelity app if you want to pursue stock investing!

In a recent post, I dived deeper into the different types of investments, including stocks, real estate, and certificates of deposit (CDs), as well as strategies for evaluating investment opportunities. 

Paying for College

Education is a significant investment, and understanding the costs and financing options is crucial. When considering college, it's important to weigh the opportunity cost—the potential income or experiences you may forefront by pursuing higher education.

In a previous post, I explored various strategies for financing your education, including scholarships, grants, student loans, and work-study programs. You can also take all of the information you have gathered on side hustles and investing, to fund your schooling. 

By mastering these financial literacy topics, you can take control of your financial future and make informed decisions that align with your goals and values. Stay tuned for more in-depth discussions on investing, paying for college, and other essential financial concepts. Everyone has the potential to be great, but don’t put too much pressure on yourself! It’s perfectly fine to take things slow and experiment with different routes of sourcing income. 


Image from Jar Ap

Ava Wieczorek 

Grade 11


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