1. TEN MONEY SAVING TIPS FOR TEENAGERS BY PHILLIP QUINTANA

2. 10. REASONS TO SAVE Saving money gives you countless benefits. You could save up for a car, vacation money, education and other things in the future like a house or retirement. You should start saving as much as you can as soon as possible. You should put money aside for a purpose and not just for the sake of saving. Someone who has saved money will be better prepared for any event, such as an emergency, that could happen in the future. Saving money will also have you develop thrifting habits and will help you understand how to live within an income. Conclusively you can have more of the things you want, you won't have to worry about financial problems, you can save for goals, and you will gain money management skills. Not only is it about saving money, but also about how wisely you spend it.

3. 9. SET A GOAL Let's say you want to purchase an expensive item costing $400 within 4 months, you can figure out how much you need to save per week to reach that amount. Simply divide the total amount by the number of months then divide that by 4 weeks. In this case you would need to save about $100 a month or about $25 a week. Goals seem easier to achieve when the costs are broken down into weekly amounts.

4. 8. SEPARATE SAVING AND SPENDING MONEY A great way to get around spending lots of money is opening a transaction account for spending money and a savings account to save up for your goals. Since some of us have money we can't track, put away the amount you plan to save before you do anything else. Think about putting a fraction of the money you earn into your savings account and let it build over time. The money in your transaction account can be used for spending.

5. 7. Self Control Try to avoid buying things quickly because you saw it in an ad or it was on sale. Only plan to buy what you need. If you do see something, ask yourself " Do I really need this item?", "Can I do without it?" If so just move on, think it over. You might even forget about the item thus saving you money that could've been wasted. Once you spend your savings on items you don't need, it'll be gone before you know it.

6. 6. CUTTING EXPENSES You could be spending lots of money unnecessarily. Things that you thought were simple luxuries could be piling up in total costs. Cutting expenses can be as simple as packing your own lunch so you don't pay for lunch money, walking or cycling to school to save money on transit, looking for items on sale when you shop, and eating out less. Small things like these help you save more money in the long run and who knows, maybe you might end up with an extra $10 each week. That's $40 a month and $480 a year. You can put this extra money in your savings account.

7. 5. LIMIT YOURSELF Another great way to stop impulse shopping is to limit yourself with your money. Without limits you could be spending a lot of money without thinking about it. This could be due to seeing an ad or a store having a clearance sale amongst other things. If you limit the amount of cash you take with you, you won't want to buy an item impulsively because you only have money for certain items you need. Plus if you carry less and you were to lose your wallet or backpack, you wouldn't lose too much. You should also think about putting a limit on your debit card if you have one. This can counteract unnecessary spending, some banks already place limits for new accounts.

8. 4. Thrift Shops Shopping at thrift shops can be great way to save some money. For example you could spend $90 for a new pair of shoes or $35 for a pair in great condition. You won't have to worry about the quality of the items at thrift shops because some stores are picky and will only accept items in good condition. Here you can get some real deals ranging from movies, games, music and clothes. If you're lucky you may even find some rare items of great value in thrift shops. In the end, thrift shops can save you a lot of money on great items.

9. 3. Smarter Shopping Doing some simple research can go a long way in the world of finances. Try to go online and look at different prices on similar items, these comparisons can lead to extraordinary savings and purchases with better quality. Look for sales, buying items on sale keeps you focused plus you can get more out of your money. Likewise you can wait for a sale. If you see something you like, keep an eye out for that item in other shops. If possible use store coupons on items you really want. But remember, don't buy something simply because it was on sale. Always ask yourself "Do I really need this?"

10. 2. Financial Education It's not often you will learn about how to save, spend, invest, and track your money. It's up to you to educate yourself on these topics. Being financially responsible will help you not spend money that's outside your price range and goals. It also means that you can't get caught up in what you want because you need the finances for the future. Financial education can also help distinguish a need from a want. It also helps you stick to your budget and helps you save more. In short, financial education is a necessity that gives you a better understanding of the finances you need and how you can be more efficient with money management skills.

11. 1. Budgets Budgets are probably the best way to save money. They can help you get the things you want, give you experience in saving and spending, and they allow you to keep track of your goals. Keeping a money diary allows you to see a better picture of your spending habits. Record all the money that comes in and where its from, and where you spent your money and why. Date your entries to see how often you spend and try to look back every week. After a month check to see where your money has gone. Did you spend your money wisely or did you waste it? Be very honest as only you can decide. If you want you can use your diary to plan ahead to where you see fit. Although maintaining a budget may sound complicated, it's actually very simple.

12. SOURCES http://www.lifehack.org/articles/money/30-ways-cut-your-monthly-expenses.html http://moneyfor20s.about.com/od/reasonsandwaystosave/tp/Top-7-Reasons-to-Save-Money.htm http://creativewealthintl.org/cwi-blog/money-saving-tips-for-teens/ http://2good2lose.com/teensandmoney.shtml http://www.themint.org/teens/saving-tricks.html http://www.themint.org/teens/buy-it-or-not.html http://www.themint.org/teens/smart-shopping.html https://www.commbank.com.au/personal/can/banking-for-teenagers/saving-tips.html http://www.themint.org/teens/keep-a-money-diary.html http://www.mypersonalfinancejourney.com/2010/12/educate-yourself-on-finance-knowledge.html