Everyone wants to save money; especially teenagers. Recently teen librarians Michele Cayea and Gilda Ramos went to the Patchogue Medford High School to give a presentation called “Teens and Money” to the High School students. They discussed budgeting, saving, spending, and financial goals. The student’s favorite part of the presentation was the saving tips we shared. Saving is putting money aside to use at a later date. When we save well, we have money for special things (such as prom, car, college, unexpected situations like a cracked cell phone screen, or a flat tire). Some of these tips may seem obvious but they are easy things everyone can do to save money!
- Eat out less often- cut down on the amount of times a week you go out for dinner, coffee, frozen yogurt ect.
- Make your own lunch- plan ahead and make your own lunch for school or work. It’s cheaper and often healthier too.
- Pay yourself first- before you spend any money, put aside money for yourself into your savings.
- Watch for sales- don’t be an impulsive shopper; it often pays to wait for sales.
- Shop with a list and a budget (back to school shopping, prom, holidays ect.)
- Open a savings account.
- Create a savings goal (ex. buy your own car) and make a plan to get there.
- Ask your parents to match your savings goals (if they are able and willing.)
Almost all teens have smart phones and they have them on them all the time. Using budgeting apps, as well as your own bank’s app to monitor your account balance and money is a great way to be aware of what you’re spending. A budget is a way to track your money to ensure that the amount you spend doesn’t exceed the amount you earn. It is a vision for the future. That helps you get where you want to go. Budgeting apps are great easy tools to help you save. Here are some links to budgeting apps for teens (and adults):