10 Ways to Save Up Money as a Kid

Posted In Investing, Saving - By Triny On Tuesday, April 2nd, 2013 With 0 Comments

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Everybody needs money, and everybody knows that it is hard to save up money, especially if you are a teen or a kid. Nevertheless, there are ways that you can save some money. Whether you want to buy a new bike or go on a vacation, here are a few tips that will help you gather enough money for your dream.

  1. Know what you are saving money for

The first and most important step is to decide what exactly it is that you want to buy. After you decide focus on your dream. It is easy to get side-tracked, but you should try to remain focused on your ultimate goal. If you want something, print a picture of it, or cut out a photo from a magazine and stick it somewhere that you can see it. This way you will see it every day.

 10 Ways to Save Up Money as a Kid 1

  1. Get a piggy bank

As childish as it may sound, a piggy bank can actually help you save up money faster. This is mainly because it is harder to crack one, than to get money out of your wallet. It can be very tempting to spend your hard-earned cash on thing you probably don’t need.

 10 Ways to Save Up Money as a Kid 2

  1. Hide your money from yourself

As we said before, temptation is something you should avoid. In other words, you should try to forget about the money that you’ve put away. We recommend that you put your savings in a siblings or relative’s closet. Make sure, however, that your beloved brother/sister doesn’t spend the money for himself.

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  1. Tell someone

Whenever you are thinking of putting some money aside for something, inform a friend. This way he/she will be able to keep track of your movements. If you are ever thinking of taking some money for something, your friend can advise you if it is a good decision or not.

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  1. Do chores

It can be quite hard to save money as a kid, because you can’t get a job and this means that you don’t have a salary. However, parents usually offer to help their children if they have dreams. Responsibility is something that everyone should learn at some point. In other words you can offer to do house chores, or assist your parents in certain matters. This way you will be able to learn things and also earn some cash.

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  1. Ask for help

You don’t have to do everything on your own, especially as a child. Most of us have great grandparents, who will always be willing to help with our desires. Moreover, grandparents are usually more easy-going than parents.

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  1. Count your money

Always keep track of your money. You never know when some greedy fingers might take a hold of your little treasure. We advise you to always note down what you’ve added to your savings, and what you’ve taken away. Having a goal in mind will make saving easier.

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  1. Win extra money

Do you have neighbors? If you do than you can also assist them. You can even make a lemonade stand for extra cash. We are sure that your parents will be more than willing of assisting you in this endeavor. You can also sell candy, mow the lawn or walk other peoples’ pets.

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  1. Make a budget

Before you start saving, try to be realistic. There’s no way you will be able to buy a new computer as a kid, without help from your parents. Discuss the matter with them, and after you know exactly how much you earn and spend every week, come up with a plan.

 budget calculation

  1. Spend money wisely

There will undoubtedly be situations when you will have to spend money. There are always unexpected things you have to pay for, and you will probably have take money from your savings. Prepare for such occurrences, and set a budget for them. However, you should be extra careful if you spend more than you had planned.

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It is not hard to save money if you truly want something, but you will have to come up with a good plan. As long as you stay focused, you will definitely fulfill your dream. Keep in mind that the greater goal requires certain sacrifices. 

About the Author

triny@seorou.com'

- Hello! My name is Ioana, I am a 22 year-old architecture student. I have recently discovered blogging, with the help of a friend, and I am very passionate about it. I've always liked reading in English, and the subjects which interest me the most are supernatural, science fiction, gaming, fantasy and of course, architecture.

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