It’s easy to spend money when you have it, especially when there’s something you’ve wanted for a while.
Buying yourself a treat sometimes isn’t a bad thing, but saving for your future is very important. Saving even a little bit whenever you get money is a way to do something great for your future self. Here’s how to start:
Work out how much money you need right now. If you have to buy necessities like new underwear, roll on or medicine, spending is okay. From there, you can set aside a little bit of money to treat yourself with something small, like your favourite soap. The rest is what you should save.
Try put away at least half of what you have. Speak to your parents or a trusted adult about opening an account with a bank or post office. The great thing about putting your money away like this is that it will be hard for you to get to it – and spend it.
If you’re not able to get to a bank, use an old jar, tin or box with a lock to put your money in. Store it in a safe place where you can’t easily get to it – this will make it easier for you not to spend.
Saving is important for your future and a good habit to get into now. A lot of the big things you might want in life like studying, opening a business, or buying a house one day can cost a lot. If you learn to put money aside now, it will be easier to afford big life expenses when it comes along.