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As a kid, saving money is a hard task especially when you are always tempted to walk into a toy store and buy new toys. But, here are a few of the best money saving tips for kids that can make saving money much easier.
1. Always find a reason on why you are trying to save money. Write it down or if it is an image you saw in a magazine, cut it out and post it somewhere where you will always be able to see it. This will enable you to become more determined in saving.
2. Ask mom and dad to open up a savings account for you or to buy you a piggy bank with a lock on it. It is not recommended that you put your savings merely in your wallet as this will give you the notion that you have money whenever you feel the urge to buy something.
3. If you decide to keep your savings in a piggy bank, instead of a bank account, make sure that you hide it in a place where you won't be tempted to spend it.
4. It is always good to tell people you entirely trust that you are going out of your way to save money. They will be able to help you by discouraging you from buying things that are unnecessary and from things that you won't entirely need.
5. Do not underestimate coins. Remember, every penny counts. You will be surprised to know what amount all those coins would sum up to when you finally take them out of your piggy bank.
6. As a kid, you will be around friends who would wish to hang out in places like malls and theme parks. However, you can change things up a little bit by suggesting places where you don't have to spend money such as going to the park and playing football.
7. Learn how to budget. At the start of every week, always set an amount of money that you will be spending and don't exceed it. Be very strict about it. This will help you deal and manage your finances better in the future.
8. Always keep track of the amount of money you are saving and set an amount that will serve as your goal. Having a goal will always make it easier to save.
9. Kids cannot have part-time jobs yet but you could still earn from helping out mom's household chores every once in a while.
10 Living in a neighborhood or subdivision certainly has its perks. You will be able to sell fruit punches, lemonades or candy bars during summer and offer to shovel snow during winter in exchange for a few dollars.
There are always ways that will help you save money as a kid but it wouldn't hurt to ask mom and dad about the benefits of doing a credit check once you have opened your own bank account. Learn the importance of regularly checking credit reports and you will be assured of an easy money-saving process.
1. Always find a reason on why you are trying to save money. Write it down or if it is an image you saw in a magazine, cut it out and post it somewhere where you will always be able to see it. This will enable you to become more determined in saving.
2. Ask mom and dad to open up a savings account for you or to buy you a piggy bank with a lock on it. It is not recommended that you put your savings merely in your wallet as this will give you the notion that you have money whenever you feel the urge to buy something.
3. If you decide to keep your savings in a piggy bank, instead of a bank account, make sure that you hide it in a place where you won't be tempted to spend it.
4. It is always good to tell people you entirely trust that you are going out of your way to save money. They will be able to help you by discouraging you from buying things that are unnecessary and from things that you won't entirely need.
5. Do not underestimate coins. Remember, every penny counts. You will be surprised to know what amount all those coins would sum up to when you finally take them out of your piggy bank.
6. As a kid, you will be around friends who would wish to hang out in places like malls and theme parks. However, you can change things up a little bit by suggesting places where you don't have to spend money such as going to the park and playing football.
7. Learn how to budget. At the start of every week, always set an amount of money that you will be spending and don't exceed it. Be very strict about it. This will help you deal and manage your finances better in the future.
8. Always keep track of the amount of money you are saving and set an amount that will serve as your goal. Having a goal will always make it easier to save.
9. Kids cannot have part-time jobs yet but you could still earn from helping out mom's household chores every once in a while.
10 Living in a neighborhood or subdivision certainly has its perks. You will be able to sell fruit punches, lemonades or candy bars during summer and offer to shovel snow during winter in exchange for a few dollars.
There are always ways that will help you save money as a kid but it wouldn't hurt to ask mom and dad about the benefits of doing a credit check once you have opened your own bank account. Learn the importance of regularly checking credit reports and you will be assured of an easy money-saving process.
Posted in: Personal Finance
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