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Money Saving Tips for Kids: Essential Tips for Kids and Teens

Amber — Thu, 26 Nov 2009 07:09:22 +0000

The following article is from TeenMoneyMakingIdeas.Com:Save Baby, Save! Tips for Saving Money.

You may be hearing your parents talking about the tighter financial times we are living in, or you may see reports on the news about a falling stock market, unemployment and folks losing their homes.

It can be scary to hear so much bad news about the economy, but there is a silver lining to all this trouble. By tightening belts – and bank accounts – more and more people are learning to spend less and save money. But why wait until after college to get some financial savvy? You can start right now with tips on money saving tips for kids.

Whether you get an allowance or work at a part time job after school, the money coming in needs to be carefully managed.This means making a habit out of spending less than what you bring in, so the excess can be used to save for large expenses, like college, and smaller expenses, like that video game you’ve been eyeing for the past month.For some, living under their means is a natural habit to adopt. For the rest of us, it takes some practice and an awareness of the value of a dollar to get used to socking the extra cash away. However, the results of spending less than you make will offer financial freedom and security for the rest of your life.

The money that you set aside for savings will probably be handled in a couple of different ways. Some will be saved in the bank for large expenses like college or a car, while a portion will be kept at home for times when you might need or want to spend a little. The first rule of saving is to have a place to keep that spare change so it is always available when you need it. While it might be tempting to keep the cash in a purse or wallet, the green stuff that goes along with you will most likely be spent faster. Just tote along what you know you’ll need and leave the rest in a piggy bank or jar at home.

Large expenses waiting in the future allow you time to invest cash so that it works for you by earning interest. The easiest way to do this is by opening your own savings account; you may not make the largest return, but your money will be secure until you need it. Most banks will waive minimum requirements for minors, so you can open an account for as little as $5 or $10.

However, once that account is open, it is essential that you commit to putting a certain amount in every month so that you can see your balance steadily grow. Most financial experts will agree that 10-15% of your income is a good amount to sock into savings. This means if you earn $100 a month in allowance, $10 of that should be deposited into your bank account. By committing to a set percentage, and depositing that amount as soon as you get the paycheck or cash, the money will be more likely to accumulate to a pretty little balance for college or a car.

Saving money may go against human nature for many of us, but it is essential if you are going to enjoy a life of financial freedom and stability. Learn to save now and your financial future will look bright indeed. Happy saving! For more information like this, visit TeenMoneyMakingIdeas.Com.

How to Save Your Money for the Future: Five Savings Tips for Teens

Amber — Fri, 22 May 2009 07:50:06 +0000

The following article is from TeenMoneyMakingIdeas.Com:What are you saving for? A car? College? No matter what your money goals might be, you need to know how to save your money for the future so you can have the money you need to get the things you want. Whether you get your cash from a weekly allowance or toil away at a part time job, the money that comes in should be managed wisely. We have five tips that will help you save cash and put you on track for a sound financial future.

1. Whether you get a $10 check for your birthday or make $50 a week at a part-time job, get in the habit of putting a portion of that money aside for savings. You can go with a consistent percentage, like 10% or 25%, or you can simply take a few dollars out and put it away.

Consistently putting money into savings like this will grow your dollars faster than you might think. For example, if you put just two dollars a week into your piggy bank, by the end of the year, you will have $104 saved.

Some years back someone did a study that showed how easy it is for people to become wealthy. It showed that just by saving the money you would spend on 2 cans of soda a day and investing it into a business you can become rich in a matter of years.

2. If you really want to save your money for the future, you might try cutting out your trips to Starbucks or McDonald’s every week. While this is an admirable strategy, completely cutting out something you love in favor of saving cash isn’t always the easiest goal to set. Instead, start with baby steps like cutting your Starbucks trips from four to two visits a week and placing the money you don’t spend into your savings fund. By cutting spending back instead of out completely, you will be more likely to meet your goals and save consistently.

3. It’s a simple fact; when you don’t have it, you won’t spend it. While it is a good idea to always have a few dollars in your wallet for emergencies, you don’t need to flash a wad of cash every time you walk out of your house. Take only what you need, and leave the rest at home in a piggy bank or in your savings account where you will actually have to visit the bank to get at it.

4. When you manage to save some cash, take the money to the bank and open up a savings account. Most banks will waive minimum balance requirements for minors, but you will still reap the benefits that the account offers.

5. Want to see your cash double? Ask your parents to match the amount you put into your savings account dollar for dollar. This means that if you make a deposit of $10, your parents will deposit the same amount for a total of $20. Your parents get to reward you for your sound money management skills in a tangible way and you get to see your savings account grow exponentially. It’s a win-win!

Knowing how to save your money for the future may seem like a lofty goal that you will never be able to meet, but by breaking down the goal into smaller manageable amounts, you will see your money grow at a slow and steady pace. Follow these tips, save a little every day and you will seriously reap the rewards of your sound money management!

For more information like this, visit TeenMoneyMakingIdeas.Com.

How to Save Money When You are Broke

Amber — Sun, 14 Dec 2008 17:35:39 +0000

The following article is from TeenMoneyMakingIdeas.Com:No Cash to Spare? Think Again! When you’re struggling through school working minimum-wage jobs, the money sure doesn’t seem to stretch as far as it needs to go. But nobody had to tell you that, right? What you need is sound advice to help you figure out how to save money when you are broke. Does that sound impossible to you? Then read on for tips on saving, spending and keeping your financial head above water until graduation rolls around.

Step 1: Keep a Spending Journal – The first step in saving money is to figure out where you are spending it in the first place. Are you having trouble getting to class without that double shot of espresso from Starbucks every morning? Maybe the dollars you are dropping for daily coffee are adding up faster than you realize. The best way to reign in spending is to chart where every penny is going for a week or two. Once you have a good idea of your spending patterns, determine which expenses are necessities and which you can leave off – at least for now.

Step 2: Set a Budget- The next step to figuring out how to save when you are broke is to create a budget for your spending. Use the journal you have been keeping, along with fixed expenses that you shell out every month. These might include cash for that campus parking spot, rent, food and your phone bill. It might also include a couple of discretionary categories (if there is a bit of cash left over) like entertainment. You also want to make sure you have a category for savings, even if you are only putting $10 or $20 in it every month. Place those expenses along the top of a chart, with spaces underneath to record the amount that is actually paid out. This will help to ensure that you remain within your spending limits each month.

Step 3: Keep up with your Budget – To ensure that you are adhering to your budget, you must take a bit of time each week to keep your records up to date. Write down all money you paid out into the appropriate categories. You certainly don’t want to throw your budget into a tailspin by finding out you’re blowing money in ways you weren’t even aware of.

Step 4: Find Hidden Money – This is where budgeting and saving really gets fun. Hidden money can be found by shopping around for discount items or coupons. It can be found in bargain hunting for everything from your weekly groceries to your school supplies. There are plenty of opportunities to save a bundle if you are willing to do your research and shop around a bit before making any major purchases. And the money you save can go right into that little account with the growing balance.

Being broke doesn’t have to be the norm for a student today. There are ways to figure out how to save money when you are broke. And we just discussed a few of them above. With some savvy money management and commitment to a budget, you can meet your expenses and watch your savings grow bit by bit. Life is good when there’s money in the bank!

What are some other ways that you found that you can save money?For more information like this, visit TeenMoneyMakingIdeas.Com.

Is Community College a Good Idea to Save Money?

Amber — Sat, 06 Dec 2008 10:49:46 +0000

The following article is from TeenMoneyMakingIdeas.Com:Escaping home and attending college in another state may be the dream of many teens, but a growing number of people are starting to turn their attentions to community colleges which is a good idea to save money over the cost of state universities. There is also an increase in the number of adults with well rooted lives in their communities who want to further their education and find that community colleges offer the best opportunity for their budget and time schedule.

There are endless reasons why someone might consider attending a community college, but for most people it all comes down to a way to save money. You really can save a ton of money going to a community college near your home, especially once you factor in all of the expenses of college beyond basic tuition.

Obtaining a college education is a long term commitment which requires adjustments in your overall lifestyle, and all of these adjustments can add to the cost of your educational adventure. For someone who doesn’t have money saved up for their education and who doesn’t want to get in over their head in loans, working to pay for their tuition may be their only hope of graduating. It is much easier to pay around $800 (sometimes even less) to a community college than to come up with over $5,000 (sometimes much more) for a larger university each term.

Besides the fact that a community college will be thousands of dollars less than a state university, you also have to consider many other factors including living and transportation expenses, as well as books and other required classroom supplies. These are all areas where attending a community college could save you money.

Living and Transportation Expenses

If you live close to a large university you could still live at home to save on living expenses, but going away for college will require a lot of thought into how much you can afford to pay for housing, utilities, food, and all of the other expenses of daily life. These things don’t go away while we are in college, and in some parts of the country they can even be more expensive than we are used to paying regularly.

The best opportunity for someone worried about paying tuition is to live at home with parents or in whatever your current living arrangement is, so that you are already paying the bills and know what you can afford. For most people, this will mean going to a community college at least for now. The option to transfer to a university a couple years down the road is always open, and in fact most community colleges work closely with state universities to transfer students over smoothly.

You should discuss with an adviser while schedule coursework to make sure whatever you take at the community college will transfer into your degree program at the university when you are ready to transfer. In the meantime, you can save a lot of money on living expenses and tuition by staying at a community college and saving up money.

Driving to and from classes needs to be taken into consideration as well. Most people live reasonably near a community college, while most are rather far away from a large university. Going to the college with the least driving distance will mean less money spent on gas and vehicle maintenance, as well a greater chance that you can work your classes into your work schedule.

Every person’s situation is different, but in most cases it will be much cheaper to live wherever you currently are and go to a community college than to travel to a large university. Even if a larger college is nearby, the savings in tuition will almost always leave community college the better option as far as money goes.

If you will have to move no matter where you go, try to find roommates and rent an apartment as close to the college campus as possible. If you can find an inexpensive room to rent in someone else’s home, it could drastically reduce your living expenses. Many families near colleges regularly rent rooms in their homes and offer safe, inexpensive environments for struggling students.

Books and Supplies

College course books are likely to be about the same price no matter what type of college you attend, but some community college professors do try to use fewer books to keep the cost down. This is especially true for courses which are typically attended by adults trying to further their careers.

If you have not looked through a college bookstore yet, get ready to be amazed at the price of a single book. Textbooks are very expensive, especially for more advanced coursework where the knowledge is more in depth and specialized. Luckily, most will sell used books for a lower price.

Since students get some money back by reselling used books no matter what condition they are in, you will have plenty books to choose from for most courses. Take the time to look through each used book and you will often be able to find one that is in practically brand new condition. When the course is over you can resell it as well, though you will get only a small fraction of what you originally paid for it back. Every little bit helps when it comes to the huge investment of a college education. You may also able to find used textbooks at used bookstores off campus or online at auction sites like EBay. Just be careful that it is the same book by the same authors and that you have the correct edition, since college books are updated regularly.

Besides these two major areas of expense, there are other possible money matters that some people will need to deal with when going to college. Some of these are more often a problem for adults trying to further their education, but they can be issues even for someone who just graduated high school.

• Extra childcare while you are in classes.
• Computer or other equipment that you will need to complete homework assignments, research, or sometimes to communicate with your teachers.
• There may be non-residence tuition fees if you do go to college away from home.

A college education is a long term commitment both in time consumption and financial matters. When money is an issue community college is a good ideas to save money, even if it is just for a couple of years while you work to put back money or secure grants and scholarships to go to a four year college.

There is also the option of taking coursework from home on the internet; and many community colleges now have this option for a wide selection of their courses. This can save a substantial amount of money on gas driving to and from a campus that isn’t that close by, and it can also fit into a tight working schedule when you can’t get off work at times your classes would be held.

Getting a college education may take a lot more money and effort to successfully complete than other things in life, but it is well worth the sacrifice in the end as it increases your job potential, level of pay, and enhances every aspect of your future life.For more information like this, visit TeenMoneyMakingIdeas.Com.

How to Save Thousands of Dollars on College and Even Go to College for Free!

Amber — Sun, 18 May 2008 07:29:10 +0000

The following article is from TeenMoneyMakingIdeas.Com:

Would You Like To Know How You Can Save Literally Thousands Of Dollars On Your College Education Or Even Go To College For Free?

Thousands of High School grads and thousands more older men and women are eager to receive a college education.

More and more college students both young and old are choosing Career-Focused colleges to provide them with the needed knowledge and skills to enter and advance in today’s job market or succeed in their own businesses. Why do so many people today choose to attend Career-Focused colleges?

The reasons are many and varied, however, some of the most important reasons for choosing a Career-Focused college are the facts that:

They Offer Flexible Schedules
They provide a quality Education in less time than traditional colleges
They Offer Flexible Schedules
They provide a quality Education in less time than traditional colleges
They allow students the ability to attend college near their place of employment
They provide more personalized and comprehensive student services
Career-Focused college education is recognized by employers as performance enhancing continuing education

Now with INSIDE INFORMATION it is possible to get your College Education for FREE!

While the guide, Free College, was inspired by men and women who attend or work at Career-Focused colleges , most if not all of the information presented can be applied to traditional colleges and universities as well. (This ebook is available as a free download to Subscribers of TeenMoneyMakingIdeas.Com. Please log in to download it.)

In our guide, Free College, you will read secret information that most people never know and those who do find out, do so only after they begin their college education. When you prepare for your future armed with the powerful knowledge found in our Go to College for FREE guide you will be miles ahead of anyone else who does not have this inside information. In a few moments, you are going to learn how you can go to college, save literally thousands of dollars during your college years and if you want to, you can get most, if not all of your college education totally free! (This ebook is available as a free download to Subscribers of TeenMoneyMakingIdeas.Com. Please log in to download it.)

Attention: Parents, grandparents, aunts and uncles: Do you love someone who wants to go to college but they are scared to face the daunting obstacles of monstrous student debts and other related expenses. Would you hand them $10,000, $50,000 or even more if you had it so that their dreams could come true?

Give them something better than cash. Place in their hands information that will arm them to face the world with the confidence that they can and WILL have the College Education they desire and deserve.

Nothing presented in this guide is theory. We present to you methods and techniques that thousands of savvy students keep quietly to themselves. In addition we reveal insider information that only a few privileged students know about and will never tell.

So, whether you want to attend college or you love someone who wants to go to college, download our guide, Free College, right now.

The future is in your hands. The power to improve your future or the future of someone you love is only a few mouse clicks away! Do it now. If not now, when? Even if it is 3AM you can instantly receive this powerful guide. What are you waiting for?

This ebook is available as a free download to Subscribers of TeenMoneyMakingIdeas.Com. Click here to become a subscriber or log in to download it.

For more information like this, visit TeenMoneyMakingIdeas.Com.