Reasons You Should Start Saving Money as a Teenager
It’s not easy to save money. You get $20 for your birthday, and it seems like you’re a millionaire, right? But if you put it away, when you get another $20, you already have almost $50! That’s a lot of money when it all adds up. But why save it when you can spend it? Check out a few of the many reasons you should start saving money as a teenager.
More Financial Freedom
Obviously, the first reason to save is to have more freedom to buy more stuff. Having financial freedom means that you don’t have to constantly ask Mom and Dad for money to see that new Venom movie (which looks incredible, by the way).
Having money in your pocket is one of the best feelings in the world because you don’t have to rely on anyone but yourself.
Buy & Maintain Your Car
Taking the bus to school sucks. Asking friends for a ride can annoy them after a while. It’s time to start saving money for a car of your own! Just remember that you may not have to buy the car alone—try asking your parents to pitch in some cash too.
If you have a car, having money on the side to take care of any repairs or upgrades will be super helpful. If you think about it that way, instead of buying everything in sight when you go shopping, you’ll thank yourself for socking some of that cash away.
Enables You To Help Others
When you have money, it’s tempting to spend it on stuff that doesn’t matter. Sure, you’re not saving money to give it all away, but if you have the means to help someone, help them.
Like if you see a donation jar at the register, drop some money in—it could help save someone’s life for all you know. When we help others, good fortune comes back to us.
Prepares You for Your 20s
Okay, guys, we know your 20s seem like they’re a million miles away, but when people tell you the years are going to fly by, they probably mean it. Do you want to live at home forever? I mean, if you do, more power to you, but if you’re going to move into a fabulous apartment, you’ll need to budget for apartment expenses.
The prices of stuff might change when you reach your 20s, but at least you’ll have exactly—if not more than—what you need to have fun and live independently.
College, traveling, and more are waiting for you, but you can’t get there without money. To make sure you have what you need and what you want when you want it, start saving money as a teenager!