It’s important to start teaching yourself about handling money at an early age. So that as you get older you are able to make good decisions with your money and are able to control your spending impulses.
Figure out expenses
Write a list of how much money you have and what you need to pay for and buy. Are you paying for data? Do you need to get tampons or pads? Are you putting money away because you’re saving for a book or a pair of shoes or a cellphone?
Once you known what you’re paying for every month, you’ll see what’s left.
Try to save at least 10% of all money that you have or make. You can save money by putting money in a money jar or you could open a savings account.
Check your spending
So now you know how much is left, you can decide what you want to spend that money on.
Try to avoid spending money that is in your savings because it will set you back and you won’t reach your savings goals when you want to.
Keep a list
How often have you had money and then suddenly your money is gone? Write a list of what you spend money on, that way you can track your spending habits. You bought a book to start a journal, 2 packets of chips and 3 cans of cooldrink… was it worth it? Writing down what you’re spending your money on will help you decide what’s worth spending your money on and what’s not.
Saving doesn’t have to be difficult. You can start small like putting money in a jar. You can try putting all your leftover coins from the week in a jar or just put your bronze coins. You can decide what works best for you.
How do you spend and save your money? Tell us some of your budgeting tricks in the comment section.