RedWine
06-17-2006, 10:14 AM
Let's face it,we all love money and love to spend that money. But, think for a second. Would you rather have a little money now, or more money later?
Steps
Save as much of the money you make as you can.
Once you have enough, ask your parents to open up a savings account for you. This will eliminate the temptation of wanting to spend that money.
If you're making minimum wage (about $6.50 an hour), that is about $200 a month. Think how much you'll have after just one year of saving ($2,400).
If you are not old enough to get a job, work various jobs around the house, picking things up when you are not asked, or working extra hard on something that could earn some money. Also, work out a deal with your parents involving your grades--for example, for every 'A' grade, you get $5.
Start saving young. Let's say you get $10, save $5, and have the other £5 for yourself. After a while, this can really add up. If you save £5 a week, that is $240 a year. If you keep that up until you get a job you can have quite a bit of money saved. (i.e. lets say you start when you are 12 years old. $240 per year * 5 = $1,200. You could have $1,200 saved up for when you reach 17 and are in need of a car.
Tips
Try to save half of what you receive. Or, if possible, ALL of what you receive.
Try to start saving young.
Don't touch it til you are old enough to drive. This can really aid in getting a decent car instead of a jalopy that you'll end up junking within a few months.
Or, if your parents buy your car, you can have that money saved up for possible shop work on that car.
Warnings
Try to avoid spending money on that junk food. It can really help in the long run.
If you need to ask your parents to hold on to your saved money, do so.
Eliminate that burning desire to spend it in any way possible.
Avoid having money in your wallet when you are downtown or at the mall. It'll only make you want to spend it.
Steps
Save as much of the money you make as you can.
Once you have enough, ask your parents to open up a savings account for you. This will eliminate the temptation of wanting to spend that money.
If you're making minimum wage (about $6.50 an hour), that is about $200 a month. Think how much you'll have after just one year of saving ($2,400).
If you are not old enough to get a job, work various jobs around the house, picking things up when you are not asked, or working extra hard on something that could earn some money. Also, work out a deal with your parents involving your grades--for example, for every 'A' grade, you get $5.
Start saving young. Let's say you get $10, save $5, and have the other £5 for yourself. After a while, this can really add up. If you save £5 a week, that is $240 a year. If you keep that up until you get a job you can have quite a bit of money saved. (i.e. lets say you start when you are 12 years old. $240 per year * 5 = $1,200. You could have $1,200 saved up for when you reach 17 and are in need of a car.
Tips
Try to save half of what you receive. Or, if possible, ALL of what you receive.
Try to start saving young.
Don't touch it til you are old enough to drive. This can really aid in getting a decent car instead of a jalopy that you'll end up junking within a few months.
Or, if your parents buy your car, you can have that money saved up for possible shop work on that car.
Warnings
Try to avoid spending money on that junk food. It can really help in the long run.
If you need to ask your parents to hold on to your saved money, do so.
Eliminate that burning desire to spend it in any way possible.
Avoid having money in your wallet when you are downtown or at the mall. It'll only make you want to spend it.