Budgeting Tips for Teens

Tip 1

Understand what you're spending money on often so you don't buy too much of something you don't need.
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Tip 2

Keep your credit and or debit cards away while shopping so you won't get tempted to waste your money.

Tip 3

Find things to do without having to spend money. Not everything you do has to cost money.

Tip 4

Wait a little for prices on things you want to drop. This can save you money you were going to originally spend.
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Tip 5

Make sure you have a way to make money. Allowance, a job, whatever can get you money so that when you decide to spend money that won't be all you have.

Tip 6

Create a list of everything you buy so at the end of each week you can see what things you need to pay less attention to and spend less money on.
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Tip 7

Put at least 10% of the money you earn into savings so you can have something to fall back on or in case your planning something big.
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Budgeting for Teenagers - SunTrust