Derek is a high school student who is currently taking a course in personal finance. He knows that he should be managing his money from his part-time job
better. He has learned about saving and budgeting, but he continues to spend all
of his money on his car and going out with friends. He knows that someday he'll
have to be more responsible, but right now he thinks he should just enjoy being a
carefree teenager. Why is it important for Derek to manage his money well now
instead of waiting until he's older?