During this long holiday, teenagers should try saving. One of the main reasons why saving money is important is, for future use.
However, most teenagers think that the culture of saving is entirely for adults. The common proverb, “the early bird catches the worm”, means that if saving starts at an early age, wealth can be aumulated.
If the culture of saving and the habit of careful spending is instilled or encouraged at an early age, then many people would not be in debt.
Getting part-time jobs or keeping the allowances your parents give you is a great way to save this holiday. The little money you have is still important if you plan for it carefully.
One of the best ways to save is to keep record of what is spent. Managing your money wisely requires that you keep record of all receipts of purchases in order to understand monthly expenses and properly cut down on your spending.
If it’s hard to save, talk to your parents into opening up a bank account for you. This will prove that you are responsible for your finances and they will not hesitate to give you money to manage.
A Piggy bank (sometimes penny bank or money box) can be used to accumulate money for most children. Allowing children to practice saving with a piggy bank sharpens their money management skills. Remember that it is never too late to start saving, even for teenagers.