A High Schoolers' Guide: Tips for Saving Money

May 28, 2019

As summer nears, many students are preparing to have a summer job. But what’s the point of having a summer job if you’re just going to spend your paycheck on Mcdonald’s and Atomic? There are so many different ways to save; you just have to find the right one for you.

1. If you’re going to have a set number of hours each week, it can be really easy to set a budget. When making a budget, it’s important to remember set an amount for gas and other car expenses, food, an amount to save, and any other categories for things that you spend money on. Any money that you don’t spend during that pay period can also be put into savings.

 

2. Before spending money on something unimportant, like fast food or a new shirt, ask yourself if you can buy it twice. If you can’t, don’t buy it. If you can, then you can put the same amount that you spent into savings.

 

3. Save any loose change and turn it into the bank. You could also do this for every five, 10, or 20-dollar bill you receive.

 

4. If it’s something you don’t need, but really want and it can wait, think about it for 24 hours. If it’s still necessary to you after a day, then you can buy it.

 

 

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