The statement "Since you are a teenager, what you do now with money will have little effect on your financial future" is?

The statement "Since you are a teenager, what you do now with money will have little effect on your financial future" is indeed false. This is because the financial habits and decisions made during teen years can significantly influence long-term financial well-being.

As teenagers, individuals have the opportunity to establish good financial practices, such as budgeting, saving, and responsible spending. Learning to manage money effectively at a young age sets a strong foundation for future financial decisions, including investing, understanding credit, and avoiding debt. Additionally, the earlier one starts saving and investing, the more they can benefit from the compounding effect, where the value of investments grows over time.

Furthermore, establishing a positive credit history and understanding the importance of financial literacy in their teenage years can lead to better opportunities in adulthood, such as lower interest rates on loans and better job prospects where financial responsibility is valued. Thus, the habits formed and the knowledge gained in the teenage years can have lasting impacts on financial health throughout life.