If you’re a teenager, chances are pretty good that you have quite a long list of things you’d like to have, yet your bank account is quite large enough to support even a fraction of them. The media knows that this demographic has the largest amount of disposable income and is all too eager to spend. Follow these tips from the experts to stretch your cash as far as possible.
If you have a part time job and your grades are in good shape, consider asking for additional shifts or hours. If you are responsible for paying for gas or saving for college, make these items a priority. If you don’t have gas money you can’t make it to work. Savings for college is an exercise in delayed gratification that will pay handsome returns. Completing a college degree will put you on track for higher earnings throughout your life.
Between the costs of downloading the latest song, movie tickets, fashion and time with buddies at restaurants, being a teenager isn’t cheap. It certainly demands that you make choices and priorities. Take advantage of the savings offered by using Groupon coupons and head over to Jimmy Jazz for a great selection of the latest styles that certainly won’t break the bank. Consider setting a limit to the number of times you each out each week or the number of songs you download. Take a realistic look at the things you enjoy doing and determine a strategy that will let you be with your friends, spend the least amount of money possible and still have room in your budget for fashion, gadgets and gas.
If you’re able to get the basics of budgeting down as a teenager, you’ll have mastered a skill that will pay dividends for a lifetime. You might even be able to teach a few adults a thing or two about money management. Good luck on your journey!