Let’s all admit. Money is important and a MUST have nowadays.
We need money to buy the basic things that we must have; from food to clothes, rent bills, amortizations, tuition fees, etc. etc. etc. And the thing is, money is not something that you can get and have as much as you want, it might go in a snap, and you’ll lose everything that you have. So as early, we should know how to use money wisely and SAVE.
How to save money:
1. Before you decide to save money, the first thing that you should do is to condition yourself and have a mindset that you will SAVE. Good discipline is the key to have a proper savings.
2. Spend Less- This is probably the best way to save money. Buy only the things that are necessary and spare from buying items that you never use in the long run.
3. Spend Wisely- Buy items that has high quality. It is better to buy something expensive but you can use for a longer time than the cheaper one which has a lower value and no quality at all. Also, make sure that you bu something that has a warranty.
4. Make a budget plan-Have a weekly budget. In case you are working, compute the average money you spent everyday and multiply it by 5 or 6 days (number of days at work), and your food allowance. Make a separate budget for other fees like electric bill, rent bill, phone bill etc. and make sure you pay it on time.
5. Open a savings account- This is the best way to save money. Open a bank account in your TRUSTED bank. You can also make it as atime-deposit to make sure that the money that you will use the money that you are saving in a certain time or age.
6. Less gimmicks- Most teens spend their money on too much nightouts or shopping which lead them to get broke at an early age. hanging out is good once in awhile but too much is not healthy anymore.
7. Have a piggy bank- Piggy bank is old school to some yet it is still effective if you have a strong will to save. Save the change coins that you have for the day and put it in your piggy bank.
8. Spare from vices- Never ever deal yourslef from any vices especially gambling. Money is at stake in gambling and you might lose everything you have in a snap once you try playing it. Gambling is win-lose game. There are more probability in losing than winning.
9. Get a part-time job/sideline- If you really want to save more money then get yourself another job or invest in a small business. Having something where you can get anotehr extra money would help you save more.
10. Spare yourself from debts- Before you get yourself a credit card, assess yourself first if you have enough capability to pay on time, regardless of how big the interest is. Because if you can’t, long lists of debts will follow you wherever you go. Also, pay your bills on time and not let it double or triple.