Saving Tips for Kids: How to Save Smart

 

The concept of saving is difficult for us adults, so we know that it is difficult for you too. We know how it feels to have saved money and want to use it immediately for something we want. However, if we want to be able to buy the big or really important things that we want, we need to be able to save. Today, we want to share some tips that will make saving a little easier.

  1. Make yourself saving jars – You should have three jars: one for saving money for bigger things in the future, one for money to spend right now, and one for the money you can give away or use towards charity or helping someone else.
  2. Decide on saving goals – You should decide how much money you want to save every week or month. You can think about what you are saving for and how much that will cost. That will help you understand how much you will need to save to get there.
  3. Saving should be first – Before you split your allowance or money earned, you should first put your savings amount away. If you take that amount out first, you will know how much is left for spending and giving. Don’t skip the saving step.
  4. Be sure about the things you buy – Sometimes we just spend money because we have some. For example, we spend money on snacks or a toy we will play with only once instead of thinking if we really need it. If you ask yourself if you really needed something you want to buy, you will find that you will have more money to save and spend on the important things. Try to buy less stuff just because.
  5. Be smart about shopping – When you spend your hard-saved money, try and find the best price for that specific item. Do a bit of price hunting and see where it costs less. Even if you only save one pound, you will be winning. That one pound can go back into your savings.

Saving can be easy once you make it a habit. It will be difficult sometimes when you really want something, but the wait will be worth it when you can finally buy that thing you want so badly. Teach yourself to be strong and save smartly.

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