Budget Tips for Teens
learn how to manage your money wisely
7 Helpful Budgeting tips
Address your needs and wants
- differentiate between needs and wants
- realize that your wants aren't necessary for survival
Count your money
check how much money you actually have to spend before making your budget
Don't spend money you don't have
it's easy to spend money you don't have if you own a credit card, make sure you have enough to pay it off
Don't shop with friends who spend a lot
make sure you are making your financial decisions independently, don't let friends persuade you to make poor decisions with your money
Pack your lunch for school
- buying lunch everyday adds up to a lot by the end of the school year
- it's okay to buy lunch sometimes but try to pack your own lunch as much as possible to save money
Make a List of Monthly Spendings
- write down what you are spending money on each month to keep track
- cross out unecessary items
Wait for Sales
- stores tend to lower the price of items when the demand is low
- in other words, when things are going out of season, it's cheaper to get them then
Betty's Tips- Teaching Teens Budgeting