What are some effective financial advices for a 17 year old?

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I will go against the common advice and suggest not to save money until you start working and not to be stingy with education.

Think about how much you will actually save. When I was 17, 100 € (150 $ at that time) seemed like a huge amount of money. However, when I moved, it became just a third of my rent and 15% of my monthly expenses. Considering that I am studying IT engineering, it will probably only amount to around 5% of my first salary if I get an average job in Melbourne, Australia.

After ten years, it might just be what I spend in a day. So, don't worry too much about saving money right now. These are the cheapest and most enjoyable years of your life, so make the most of them. You will have plenty of time to think about long-term plans and other responsibilities when you settle down and secure a job. With a small amount of money, you can do a lot of incredible things like backpacking around the world or having wild parties with your friends for just $20! These experiences will cost you ten times more in the future because your expectations will grow.

In summary, spend your money, gain knowledge and experience as much as you can because you only have one youth!

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