Save Money for Something Big As a Teen

Is there something you're dying to get that your parents won't buy you, or you just want to have the independence of buying yourself?(e.g.like a holiday just you and your friends) Imagine the looks on everyone's faces when you walk into the room with a brand new $500 jacket, a car, an iPad, or a new laptop. But to do this, you'll need to save money.

Steps

  1. Decide on what you want to get. Find out the pricing. The best idea is to do a little research and compare prices online so that you get the best deal possible.
  2. Set aside half of all funds received. Open a savings account or put it in a money box. Save all change you have received from your purchases
  3. Get a job (if you are old enough). Depending on location, most teens can start working If they are 14 (16 in some places) or older. Not only will this help save up for the big purchase but the job will give a reference on a resume.
  4. Budget wisely. Don't make a purchase because it was on sale. Stay true to the dream of buying what is really wanted. Envision the desired object, and don't spend any of your savings on some other purchase. Keep the dream.
  5. Sell handmade or craft items at school, if this is allowed. Check with the school's administrators to see if selling at school is allowed.
  6. Research prices and shop around, once 95 percent of the money is tucked away. Try to purchase the item on sale.
  7. Get a big jar or tin and put every coin, note and whatever cash you find laying in your wallet, your table, etc. Don't open it for 30 days. Just open it to put in more money, and if you are able to put a special hole in the lid, even better! If you can do this, make sure you seal the lid to the tin with heavy duty tape. You never know when you'll want money for something stupid. If you want, write something on the tin with Sharpie or other permanent marker like "Don't you dare open this!"

Tips

  • Separate your needs and wants. Sometimes save half your school lunch money that your parents give you. Try to eat a larger breakfast so you won't need to buy as much food at lunch in the cafeteria. When you get home, put that money in your piggy-bank, and eat a healthy snack!
  • Be patient. Don't worry, it may seem to take forever, but if you try hard, you will get what you're saving for!
  • Don't pressure yourself. Things like these can't come easily. Who cares if it takes a couple months to save up? In the end, it'll be worth it.
  • Do some extra chores for your parents, house sit, baby sit, do yard-work for neighbors, etc.
  • If you are saving for a phone or tablet buy a case of that item and this will give you an incentive.
  • Babysit for a family friend or walk a friend's dog.
  • Ask your parents if you could have an allowance each week.

Warnings

  • If you are going to hide your money make sure you remember where you put it.
  • Don't tell anyone about the money you are saving or it may be stolen.

Things You'll Need

  • Savings account
  • Piggy bank
  • Safe place to hide your savings

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