Financial Roadmap for Teens

Summary

The video provides a detailed age-by-age roadmap for building financial success, targeting viewers aged 13 to 18, with practical steps for each year.
Key recommendations include opening investment accounts early, developing valuable skills, making strategic decisions about higher education, and consistently investing for long-term growth.
Decisions about credit, debt, and university are discussed with an emphasis on building financial discipline and independence.
The content is structured as a checklist applicable for teenagers or as a progress review for older viewers.

No specific due-dated or owner-assigned items were mentioned, as this is an instructional video rather than a meeting with participants.

Start investing as early as possible to take advantage of compounding returns (“time in the market”).
Since under 18, work with a parent/guardian to open a custodial investment account (e.g., Junior Stocks & Shares ISA in the UK, UGMA/UTMA in the USA).
Suggest parents contribute gifts or monetary presents directly to investments.
Favor low-cost index funds such as the S&P 500 for beginners.
Emphasizes responsibility and early exposure to investing.

Take advantage of low personal expenses to experiment with side hustles and extracurricular activities.
Try out multiple activities (sports, odd jobs, hobbies) to discover personal strengths and interests.
Stress the importance of learning discipline and resilience through varied experiences.
Double down on activities or skills you enjoy and are naturally good at.

Request cash gifts instead of material presents to build usable savings.
Start a Saturday or part-time job; prioritize learning and work experience over job prestige.
Begin accumulating a cash “stash” intended for future investments or opportunities, not just short-term spending.
Apply for a provisional driving license (UK: at 15 years, 9 months).

Identify and focus on developing specific skills relevant to future earning potential.
Invest primarily in equipment or tools needed to further skills (e.g., computers, software) rather than online courses.
Join communities relevant to your interests to gain practical knowledge and networking.
Prepare to offer real-world value through combined skills by adulthood.

Make passing the driving test a priority for greater independence and opportunity access.
Use saved money to purchase an affordable starter vehicle if possible.
Highlights how reliable transport is critical to seizing side hustle and job opportunities.

Open at least two bank accounts: a current/checking account for daily spending and a high-interest savings account for emergency funds.
Obtain a credit card and use responsibly to build credit history (pay off monthly, avoid interest charges).
Open an investment account (tax-advantaged if possible, e.g., Roth IRA, Stocks & Shares ISA, TFSA, etc.).
Carefully consider university’s ROI; only pursue if necessary for intended profession, otherwise consider apprenticeships.
Avoid consumer (bad) debt; only use debt strategically for appreciating assets (real estate, business).
Start a service-based side-hustle leveraging high-income, in-demand skills.
Commit to investing regularly for the long term to benefit from compound interest.

Start investing and learning about finance as early as possible — Early exposure increases compounding returns and financial literacy.
Earn, save, and invest cash rather than spending on depreciating items — Enables building a foundation for future wealth.
Consider university only if necessary for chosen profession — Avoid unnecessary debt if a degree does not provide direct career benefits.
Leverage “good” debt only for appreciating assets — Avoid consumer debt that does not increase net worth.

No open questions or follow-up items, as this was a one-way instructional video.