Experts advise teens how to prepare economically in this time of uncertainty

Economists are divided over whether we’re in a recession, but they agree people should prepare during this time of uncertainty – including teens.

“As educators, one of our main responsibilities and role is to prepare students with competencies that will translate into the workforce,” Meghan Merideth, executive director of Utah Virtual Academy said.

Merideth says inflation will most likely impact the class of 2023 as they look to either continue their education or find a job.

She offers these recession-proof tips for teens:

First, consider jobs that offer strong job security during economic downturns – such as health care and IT – and begin learning those skills.

“There are lots of programs throughout the state of Utah in many high schools that will put students on a CTE path to earn certificates.”

Concurrent enrollment is a viable option too. Students can earn college credit while in high school and save some money.

Second, practice budgeting now. There are apps that can help you get started, track your spending, and manage credit.

Third, learn how to stand out as a job candidate. With an influx of unemployed people in the job market, it’s very competitive. So, brush up on your interviewing skills.

And last, save, save, save. With tuition going up year after year, students may have to set aside more money for a 4-year degree.

“Planning is key especially if you can narrow in on a field while you’re in high school,” Merideth said.