Money decisions made early in life can have a lasting impact on a young person’s future. Yet, financial lessons are often overlooked in high schools, leaving students unprepared for real-world financial responsibilities.

As a former high school math teacher and financial literacy speaker, CoolSpeaker MJ Bridges knows firsthand how early money habits can shape a lifetime of financial freedom—or financial struggle. After paying off nearly $100,000 in debt, he made it my mission to help young people understand budgeting, credit, and college costs before they make costly mistakes. In this blog, he will share an essential financial lesson every young person should learn now to build a future free from financial stress.

I remember earning my first paycheck in my first career job after college. I was extremely happy to have a salary job because that is what I was taught. However, I was stunned when I saw the amount. The check amount was just above the amount I planned to pay for rent. I never knew that $43,000 looked like that. I thought, how am I going to afford a new car, furniture, fun, student loan payments, etc?

I remember being told what salary to expect per career, but not exactly what it looked like. I never was taught the actual pay check amounts of 40, 50, 60, 70, $80,000, etc… That very moment prompted me to teach and show young folks, “THE REAL Numbers. My goal is to show what salaries actually pay per month and compare them with the rent of desired neighborhoods in a desired city.

Step 1: Compare 5-7 Salaries Of Careers or Jobs. Have your student select one of the careers and the salary.

Step 2: Next, what is the monthly net income of each of the salaries listed above? How much is one paycheck for the month? (Try to use a salary job that gets paid twice a month) These tools, like the SmartAsset calculator,can help with this. You can change locations and paycheck frequency with this calculator as well. I have a free video tutorial for help.

Step 3: Visit websites like rent.com and select the city of choice, average rent by desired neighborhood. This is also a good time to explain and teach about safe neighborhoods, living in luxury vs standard, etc. Watch this video by me for more help. 

Step 4: Reflect on the student’s expected salary and their choice of neighborhood. Does the income match the standard of living? Does the NET income match the neighborhood?

Financial Lessons

I believe this financial lesson can be taught to students in middle school up to college. For my younger students, this would be a great time for so many other financial lessons such as smart money habits, career exploration, listing needs and wants, rural vs metropolitan living, and more.

For more mature students, I recommend highlighting other major expenses in the budget they may have, such as loan repayments and other debts. Also, the idea of living in the more desired and hip neighborhoods comes with a price tag. Are you open to roommating and cutting back on expenses if your income does not match your desired neighborhood? These students can hopefully identify how debt-free living is a lot more beneficial and grants them more options.

Showing the real numbers can be an essential topic for money tips for high school students and beyond. I encourage educators and parents to keep it simple. Show how much it costs to live in that cool neighborhood and compare it to the income of the student’s desired career path, so you can ask: “Will your net match your neighborhood?” 

Teaching students financial lessons early sets them up for a lifetime of financial confidence and success. With the right knowledge, they can make informed choices about budgeting, credit, and college expenses, helping them avoid debt and create the life they desire.

Bring MJ Bridges to your school for engaging and practical financial lessons, designed to empower high schoolers with the skills they need to be young and debt-free. Contact CoolSpeak today to book a session and give your students the financial foundation they deserve!!