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5 Great Ways for Teenagers to Save Money

So, you want to save some money? As a teenager you probably don’t work, because you are still in school, and that’s great, but sometimes you would like to have some extra money, right? Here are 5 great tips on how to save money for something you want.

1. Save a Part of Your Allowance

Your parents are probably giving you some money on a monthly basis, that great little something we call allowance. There is also a chance that you don’t really need that much money and that you could do with a little less. So, try to see how much money you really do need, and try to put aside everything that’s left from your allowance into saving.

It’s not going to be easy, but, you can do it. You don’t need to buy 5 different shades of lipstick, two that best suit you will do just fine. You could also go out less often. It’s not something you will really enjoy because, well, you love to go out, but if you really need to save some money, you’ll survive. After all, you can invite your friends to hang over at your house and you will certainly spend less money than if you were to go out.

2. Bring Lunch From Home

Instead of buying your lunch, bring lunch from home and save some money. Make yourself a sandwich or a salad or anything you like and bring a lunch bag to school. That way you won’t need to buy anything else and you will be able to control what you eat and have a healthier meal. It’s better for you anyway to bring something you made yourself or your mom made for you, than to buy food.

3. Little Jobs Around the House

Help around the house; fold laundry or clean once in a while and negotiate some small amount of money for your help. Now, you can’t rip your parents off, but you can establish a small price for every time you empty the dryer and fold the laundry. An hourly rate for every time you stay home and babysit your little brother or sister is a good idea too.

Offer to help some elderly neighbors around the house. They will very much appreciate and award your help. If you’re already going to a store or passing by one on your way from school, you can buy some groceries for your neighbors and boost up your economy a little.

4. Summer Job

girl cleaning window

This only works if you are old enough to work. Summer jobs are a great way to earn some money. Why? Well, first of all you will make money. Secondly, your parents will be very proud of you taking the responsibility for your own finances and they will most likely reward you by letting you save all the money you’ve earned – so allowance money plus the money you’ve earned. And finally, you will learn a very valuable lesson on how great it feels to earn your own money. You will have to start working one day anyway, so you might as well see what that is all about and gain some experience.

5. Start a Savings Account

If you have earned some money and you would like to save it, ask your parents to open a savings account for you. This way, your money will be safely stored in a bank and you won’t be tempted to just spend it whenever you feel like. And what’s best, the amount will grow with an interest.

See, you can save some money even though you are a teenager with no fancy job. You just need to learn how and be determined. Once you’ve started saving, you’ll see that it’s not that hard really, and that it brings a lot of great things.

About the author

Sarah

I’m a free spirit who likes to travel, cook and fly. Licensed paraglider pilot, I spend all my spare time flying. In the meantime, I like to share my recipes and travel experiences.

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