Nowadays, many teenagers would like to save some money, whether it's to buy a new computer, video games, or phone, or a new designer handbag of the brand of the moment: we all have longed for something at one time or another. If you receive money or have pocket money, all you have to do is save!
Steps
Step 1. Determine how much money you will receive
Find out how much your pocket money or salary is (if you have a job) and calculate how much you earn in a given period (every week or every month).
Step 2. Track your expenses
Try to make a reasonable estimate of your expenses (weekly or monthly) and calculate the difference between expenses and earnings.
Step 3. Find opportunities to earn money
Offer to mow the lawn, wash the dishes, or assist your neighbors. Try selling old things. If you are old enough, consider getting a job.
Step 4. Calculate how much time you have available for these additional tasks
If you fill in a schedule tailored to the tasks you do to earn extra money (mowing the lawn, cleaning, etc.), you will make things easier for both yourself and your customers.
Step 5. Establish a budget
Allow yourself an amount of money that you are free to spend each month on whatever you want, but then stick to your budget limits. Do not buy things that exceed the amount you have set: this way you can put aside the difference.
Step 6. You can also offer to walk the dog for your family, friends and neighbors (for a fee)
You could even wash cars.
Step 7. Get a job as a bartender, newspaper distributor, or whatever else comes your way
Step 8. Keep all the money you save in the bank or put it in a piggy bank
Make sure you are never tempted to waste money on useless things. For this, bank accounts are a great way to save.
Step 9. Go out and buy what you want
Enjoy your savings!
Advice
- You could save a few more bucks than the cost of the item you want to buy, so that you still have some cash aside.
- Be patient. You won't be able to save € 1000 a month if you are a teenager!
- Ask your parents for help - they may ask their friends if you can do some work for them.
- Never beg for money - it will make you look desperate and no one will want to hire you.
- If you really feel like taking some risks and your parents are supporting you, take part in the hectic activities of a stock exchange. It's a risk, especially in the current economic situation, but it could also end up being the financial breakthrough you need.
Warnings
- Don't get hooked on new products while you're saving - finish what you started. If you buy a new item you will regret not having taken what you wanted at the start.
- Never waste money on things you don't need.
- Try to avoid getting inspired by the chewing gum and candy on sale at the checkout or at the exit of the shops - most of the time their price is higher.
- Search for the best offer for the product you are interested in. Sometimes people are so enthusiastic that they end up shopping at the first store they find, only to realize that the next one would find the same things on sale.
