Budgets for Teens
By Nick McAndrew
1- FILE YOUR SPENDING
After you get a job and you start making money, keep track of it. For example, if you went out and bought a new game, write it down somewhere so that you are keeping track of your spending.
2- THE RIGHT CHOICE
Resist impulse buys. If you see something cool, don't just buy it, think about it! Too many teens blow their money away on dumb things. For example, if you go to a golf store and you see they have the golf balls you like but you know you have plenty at home, don't buy them, that would we a dumb purchase and you would be wasting your money, and your not made of it.
3- SHOPPING SMARTS
This can tie into #2. When you do go shopping, don't go with friends who spend a lot. When your around your friends and they're buying a lot, you will want to as well. So when you go shopping or just go out, try not to go with the spenders.
The ATM. If you have money in the bank, chances are you want it in your wallet. When you go to the ATM, try to only go once a week. If you go 3 or more times a week, your spending WAY to much money.
5- THE LOCATIONS
Don't go "out" with friends a lot. When your hanging out with or buds try to stay home. There are plenty of things to do with your friends at home rather than going out to the mall. You can even walk to your local soccer field or basketball court and start playing a pick up game. You don't always have to go to the mall.
6- THE BEST DEAL
When you do spend or you really do want something, wait for the right time. Don't just see the price or the item and buy it immediately, do your research on it. Find the best price and the best item if multiple company's make it and then buy it. Once you get it you will feel happy you chose the right one and you will have more in your pocket!
SAVE! This is the most important tip, just save your money! Some many teens just spend and spend and rely on their parents for money. If you save your money, you will live a much easier life once your done school. It will only benefit you in the long run!
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