Budget Tips for Teens
By: 115917
You can shop, just wait
A lot of stores have big sales at the end of a season. If something you want is expensive, wait a few weeks and the price will probably be marked down. If you're an online shopper, look for special deals like free shipping or monthly discounts.
Don't go somewhere you'll spend money
Do not go to the mall every weekend "just to look", because for most people, that only lasts for so long. Avoid places where you know you'll want to buy something.
Do something that doesn't involve a lot of money
Instead of spending money at the movies rent a few flicks and grab a bag of microwave popcorn for five dollars. Or do some arts and crafts, something fun and different.
Give your parents the money you are saving and don't ask for it back
Instead of you keeping it and having a risk of you spending it, give it to your parents and tell them to keep it and not to give it back until you have all of it saved up or are buying what you need.
Needs vs. Wants
Figure out what you want and something you physically need and can't avoid. Buy the needs first and if there is extra, buy the wants, if it's a reasonable price.
Teen Money Management - It's Your Money: Financial Flight School
Use the Mint App
This app can help you come up with a budget and stay on track of the budget.
Try to avoid impulse buying
Instead of just buying something on the spot, figure out if you can afford it and if it's necessary.
Develop Healthy Habits
For spending you have to keep track and keep everything organized, have healthy spending habits.