The Price is RightWhen it comes to understanding money and finances, a lot of us have trouble knowing whatit's all about. There is a freshman here at ******* High School who already knows how the money world works. His name is Mike Price and just recently he won an award called the "Teen Advise Award," by Motley Fool.com. The award is annually given out to teens who offer the best investing/ personal finance advice for teens. The winner also gets $1,000 in earnings.Mike is taking advantage of his free time that he has by doing what he likes most: Investing. "Investing is my hobby," he says. "It's something that I'm good at and enjoy doing." Through investing early, he has learned to save and invest for long term life goals.He started out learning about money young and worked his way up the scale. "During 8th grade, I became interested in investing," he says. "I've read about 10 books on investing and have studied the works of Warren Buffet and Peter Lynch." (FYI: Warren Buffet is the 2nd richest man in the world and Peter Lynch is a famous mutual fund manager).Investing has not just helped him to make money and save for long term. It has helped him personally, even in school. "I am better able to put things into context and am a lot better at writing," said Price. By winning the award, it has made him "more confident not only to invest, but also to teach about investing."With the $1000 that he won, he plans to break up his earnings: 50% to an investing newsletter, 10% to his church, 25% for cancer research, and 15 % to save for his own personal needs.Some investing tips from Mike:1) Start to invest now! Compound together interest.2) With the amount of money that you make, save about 10-20% of it for personal savings and future.3) Learn a lot about investing so you can understand how the business world works. For more of Mike's investment tips, go to "Fool.com" and search for "Mike Price." Since Mike has made a jump start planning for his future, there is no reason why he shouldn't become "tomorrow's next billionare."
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