Great for journaling
I'm putting together scrapbooks for each of my nieces and nephews for when they graduate. This is a great tool to punch the paper I use for my journalling. I don't find too many tools to use for teenagers who are not into dances or sports, or pink.
Also, for something different, I took a piece of paper, punched the bottom edge and then took a strip of card stock to put below it. (picture the image above but upside down)