How to Save Money: Top Five Tips

Abby Lovell, Reporter

Have you ever struggled with saving money? If the answer is yes, then here are five tips to help you save money. 

        1) Start a savings account:

Having a savings account can help you put your money somewhere safe and can help you make sure you have money in the event of an emergency. With a savings account, you can split the money you earn by 50/50, so you can save money and spend money.

       2) Track your spending:

Tracking what you spend your money on can help you understand where you’re spending most of it. It will also help you manage how you spend money in those areas.

       3) Set a budget: 

Setting a budget can help you set a limit of how much you’re allowed to spend and where you can spend it. A budget is a great way to save money for teens looking to buy something that is over their salary or for the future. 

       4) Don’t forget to set a goal: 

Setting a goal can help you save money faster, even if it’s just a small amount. Having a goal will allow you to set a limit to how much money you can spend weekly, monthly or yearly. Make sure you have a small goal first, and then, build off of them. 

       5) Stop buying things you don’t need: 

            While you are at a store, you may find yourself wanting to buy something you don’t

necessarily need. When you’re going to a store, make a list, so you don’t buy anything you don’t need.

Photo Credit: Abby Lovell
Putting money away to save for later.