How Should Teenagers Save Money?

    Many of the teens want to save money, it can be for any purpose like electronic gadgets, branded purses or watches etc. So if you have the money and the allowance from your parents you are free to buy yourself that brand or gadget for yourself.
    Therefore to buy these luxury gadgets or anything else that you require for yourself. Here are some tips yo save your pocket money.

1. Figure out your income –
    Find out how much money you earn per month or week. So that it fits in your budget to buy your specific want.

2. Cut down your spendings –
    After you get to know your savings try to cut down unnecessary spending i.e eating from canteen, spending money on travelling in rickshaw etc.

3. Find various opportunities to make money –
    To fulfil what you want along with cutting down your expenses.  Try for a job, give tutions to neighbouring children, sell away your junk waste(books,newspapers etc).

4. Extra work –
    Try to find out time from your work so that you be able to do extra work N make more money for yourself.

5. Create a budget –
    Get an amount of money that you have to spent each month on the item desired by you. Don’t buy something that goes beyond your budget.

6. Put all your money you save in the bank or in  a box –
    Assure yourself that you don’t get tempted to waste money on unwanted things. Have a bank account to save your money.

And Finally, buy whatever you wish to buy for yourself.

CONTRIBUTED BY:

Jovian Ribeiro, aiming to be a good content writer.  Student of First year bms stepped into Alkesh Dinesh Mody Institute, University

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