Money-Saving Tips

Today’s teenagers  young adults are struggling with saving money and managing their finances.

This problem has become so prevalent that a class in personal finance is required to graduate.

According to money.usnews.com, here are a few tips to help manage and save money that are easy to follow:

  1. Think about needs versus wants.
    Knowing what to do without can help teens spend their money smarter and more responsibly.
  2. Start a saving habit.
    Saving money early on in life will make it easier to have money later on in life.
  3. Make your own money.
    Get a job. Whether  working as a cashier or mowing lawns or walking dogs in your neighborhood, making one’s own money may help teens value the hard work it takes to make money, and to consequently spend it less carelessly than if it’s just money handed down.
  4. Be a smart shopper.
    When spending money, buy the off-brand things. This will help save a few extra dollars to use later on or when one may unexpectedly need it.
  5. Carpool.
    Form a group of friends in high school and make a carpool system. Perhaps one person is the driver one week and so on. This can save money otherwise spent on gas. On senior lunch day here at Chatham High School, that extra money the other friends saved on gas can help pay for Friday lunch and help out the friend responsible for driving that week.

These are only just a few of the tips that could be helpful for financially struggling teens today to save money and better manage their finances.

Makayla Barbour, freshman, “I really love clothes, but I limit how many shopping sprees that I go on, in order to save some cash.”

“I take about $20 from each paycheck, and I try and save it in my bank account,” said Nick Mitchell, senior.

“In the summer, I save half my paycheck, so that in the fall when I don’t have a job anymore, I will have cash,” said Ethan Dunevant, senior.

Carissa Sandridge, sophomore, “I typically try to look for the things that are marked down or have a coupon for a meal when going out to eat. I also typically hide my money, forget about it, and then find it later while cleaning my part of the room, making sure Destiny doesn’t take it.”

Teresa Sandridge, Twin Springs SPED aide, “I like to wait for deals on food and clothes and have savings set aside for going out on Sunday for lunch after church and for the bills as well. I tell my children to save their money for when they want something or in the case that I might have to borrow from them.”

Samantha Shumaker, sophomore, “I save my money by not spending it unless I have to. I try to keep it put away in my room somewhere.”

Jaden Sandridge, eighth grader, “I usually save my money by not giving it to anyone. Mostly I save up for a new game I might want and by not going to the store with my mom so I am not tempted to spend my money.”

“I don’t really save money, mostly because I don’t have money to save. On the occasions I do have money, I can’t think of any way that I try to save it,” said Mandi Gregory, junior.