Saving is Smart.

 

SaveYourMoney-WebAd-300x200If you’re already earning money — from chores, babysitting, yard work, or another job — then now is a good time to start saving, too.

Why saving is a good idea
“Save your money” isn’t just something your parents say for the sake of telling you what to do. Turns out, their advice is solid. When you save your money, you can make better choices about how to use it later. Saving is smart, because:

  • It gives you more independence, now and in the future.
  • It gives you the opportunity to make bigger purchases later — from a fancy phone to your own car.
  • You’ll have money to handle unplanned expenses, like repairing or replacing things that get accidentally damaged.

Setting priorities: How to save ahead
Saving is easy, actually. You just need to prioritize. That means knowing the difference between wants and needs. Depending on the rules in your house, you might be required to pay for some of the things you need, like:

  • Cell phone service
  • Clothes/shoes
  • Gas for your car
  • School supplies
  • Food

And you may also have to pay for extra things you want, but can actually live without, like:

  • Movie or concert tickets
  • Gifts for friends
  • Jewelry
  • The latest electronics

To make sure you’re able to keep saving money:

  1. Put the money you earn in a bank account for safe-keeping.
  2. Each month, pay for the things you need first.
  3. Use a small portion of what’s left, to do the things you want — and leave the rest in your account.

Questions?
Stop by your school branch and an advisor will be happy to help you figure out how to save money for the future.