Saving money 101

Vanessa Gomez, Writer

Most teenagers find it difficult to save any money they come across; whether they receive the money from their weekly allowance or they earn it working long hours.

Some teenagers get so excited to have the money, that they just go off and spend it all without thinking about the things they are purchasing. As a teenager, try to find ways to keep a portion of your money for leisure spending and another to stick into a savings account.

If you are struggling to keep a dollar in your pocket, here are some tips to help you out.

According to americasaves.org, the best way to save your money is: “1. Keep track of your spending. 2. Try to limit credit card purchases, to minimize interest charges. 3. Think 24 hours before purchasing an expensive item.  4. Aim for short term savings goals, such as $20 a week. People save more successfully when they keep a short-term goal in sight.”

People  find different ways to save their money. Senior, Ashley Romero, said “I save my money by hiding it from myself.  If I do not see it then I will not be tempted to spend it because I usually forget I have the money.” Find anyway to hold on to your money and do not spend it all at once.

Knowing how to save money is a good habit to have because saved money can be used in case of an emergency. It is also a good habit to have heading into adulthood in order to keep yourself out of money issues and always keep a healthy amount of money in your bank accounts.