In an ideal situation you should start saving for the big expenses in life such as a car, house and education at around 16 if not earlier if you have a steady income! I mean we must understand that when you are 16 you want to spend it all but if you think about it you should only spend about half on teenage things! don’t get in the mindset well I have it and have no bills I may as well blow it! This is terrible as you will start university with a large debt! If you want to build financial independance you must start saving as soon as possible! Bank all the money you can before you start buying the major things in life. If you really want a car as a teenager buy one you can really afford!
By the time you go to get an education be it trade school, community college or university you should be able to pay for the first year at least from money previously earned! You would be suprised what owing twenty thousand less when your done affects your quality of life not to mention the “life” of your student loans benig significantly lower! Don’t forget to bank as much as you can to do this! I would highly recommend working during school anykind of school as long as it doesn’t push your stress level over the edge! It does you no good to work hard in school and have a 50 thousand a year income but have 80 thousand in debt!
There are RESPs available in most places to save for a childs education ask your parents if you have one and if you can contribute. Also if you ARE a parent try your best to help your children with one even 20$ a month throughout their at home life is a good boost for them! However you still need to encourage them to go get a job as soon as they are old enough!