Saving Money

By: Autumn Frieze ’17

Many high school students work part time jobs after school and on the weekends.  The average hourly wage for teens is from $7.50 to $10.00, and gives teens quite a bit of room for necessities like gas, and wants like new shoes/clothes.  However, a problem that many high-school students face is putting money aside for future expenses, like college, a car, apartment, etc.

Now that debit cards are the go to way to carry money around, it’s easy to swipe every time you want something without realizing how much things are adding up.  So, a great way to control spending, is carrying cash around with you instead.  Actually seeing the money dwindle from your wallet is more of a practical way to budget.  You’ll quickly realize those 7-11 trips everyday, along with the other fast food trips, add up to a lot more than you realize.

Another way to save your money is to open up a separate account to put aside money.  Lets say you get a $100 paycheck, put $50 in an account to put aside, and keep $50 in your normal checking’s account for you to spend.  Limiting access to your savings account can’t go wrong, you’ll see yourself build up quite a lot of money.

Also, set goals for the amount of money you want to save.  You could say, by this date, I want to have blank amount of money saved up.  Having a goal to shoot for pushes you to follow through with saving.

It’s okay to spend your money on what you want, just be smart about it, have a plan, and remember to save!