Saving money? It is the one of the biggest failure that some of the students can’t do. They are just wasting their money into nonsense stuff. Actually, saving money is not hard. In fact, I learned to save money at an early age and no one taught me how to do it. I just found myself keeping some coins in my saving box. I didn’t really have a goal that time if where or when I will use the money that I saved. My aim was just to save.
Once your parents gave your allowance, it’s now your responsibility on how you will spend or use it. Your parents will not dictate you anymore. This only means that they have trust in you when it comes in holding money. In these tips, I am not telling you to be thrift but to be practical in life. So I will share some tips on how you can save your allowances even if that is monthly, weekly or just your daily allowance.
Walk if your house is near the school.
I am not saying that this is the best way to save your money but practicality it’s what I mean. If you are really serious to be a long term money saver, you should be practical in everything that you will do regarding your money.
Consider your health here. Ask yourself, do you need soft drinks during your break time? I am not telling you to limit the foods that you eat but think if it is necessary to buy soft drinks or any beverages.
Buy food that is cheap but healthy and make your stomach full.
During your break time, buy healthy but inexpensive foods that make you feel full like sandwiches rather than buying junk foods. The second tip and this tip may sound health related tips but this is just a part if you want to be a money saver.
Buy important school stuff.
Create a list of things that you’ll need. If you have a list of important things to buy, this will save your time because you know what you needed and this will not tempt you to buy other things because it is budgeted just for that stuff. If possible, you should buy in bulk and shop wisely.
If there is left on your allowance, keep it on your saving box.
Each day, each week or each month, you should have something to put on saving box even if that is small amount at least you saved money. And it is better to put small amounts then going to larger amounts.
This next tip is just fine if you will not do it. It is always up to you to follow this or not but I think this would help you a lot on saving and earning your money.
Set a goal of how much money you would want to save until the time you want to use what you have earned.
These are just simple tips and I hope that these will help you become a money saver. I eventually did these tips for many years and it worked for me. Like what I have said, no one taught me how to do such thing. For me, I am very happy every time I save and in fact, I have a Php 21,000 in my saving box that I earned for many years. The money that I saved was very helpful especially if I badly need money for urgent matters.
Patience and perseverance is the key. After all, the feeling of fulfillment and satisfaction will flow all over your body.
This is an old article I have written in one of my class. I changed the title from ‘Allowance Tips’ to ‘On Saving Money’, inspired from Kahlil Gibran’s The Prophet. Anyway, if you’re going to ask me if I still have that 21k, my answer is NO. I don’t have that amount now, but maybe around 15k in my savings (not sure ☺). Remember, I have also my needs and wants, and I am shy now to ask money from my parents for those. And sometimes my Mom really needs some money and since I am a good child, I’m willing to lend it to her with interest of course (evil grin