Budget tips for teens

By 143315

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Find a way to save, no matter how small

Even if you don't have a job with steady pay or allowance chances are you get money for odd jobs or as gifts, saving even a little is a good habit to form early
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Only get a credit card if you're ready

While building credit is an important part of life a credit card is an easy way to overspend and end up in debt.

Family isn't a Bank

Don't barrow large amounts of money from your family. Even though your family is willing to help don't take advantage of them as your personal bank because they wont for-close on you.
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FOOD.

If you can avoid buying food, do it. you will burn money on food faster than any other expense without ever realizing.

Overdrafts

if you have a bank or Debit card make sure the account is set up so that you cannot overdraft. its an expensive mistake and banks are unforgiving.
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look long term on purchases

when buying something consider what costs may come with it down the line for upkeep, upgrades, accessories, etc...

get your parents involved

chances are you have a bank account which your parents had to set up, but let them know how much money you make and if you get into a financial emergency so youre not alone in a financial situation youre unfamiliar with
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