Harvard Business School Online: Economics for Managers

7 Money Concepts Your Teen Needs to Know Before Graduating from High School 1. Opportunity Cost Once you spend your money on something, it can’t be used for something else. Money is finite - when it’s gone it’s gone. Help them understand the tradeoffs of buying one item vs. saving the money for something else. 2. Delayed Gratification You can’t have everything you want the minute you want it. If you really want an item, make a plan to purchase it instead of buying on impulse or credit. 3. Save a