How to Save Money?
You do not have to spend your money the second you get it. You can save your money to buy something special in the future. This means that you will store your money somewhere to add to it later on. Once you have enough saved, you can buy whatever you want.
The best way to save money is to have a savings goal. This is a certain amount of money you want to save to buy a certain item. If you want to buy a bike that costs $100, you know you need to save $100 before you can get it. If you know what your allowance is every week or month, you can add up your allowances to see how long it will take to get the bike.
Let’s say that you want to buy a really cool skateboard from the store. The skateboard costs $20.
You get $5 for your allowance every week.
If you save your allowance the first week, you will have $5 saved. If you do the same for the second week, you will have $10. After the third week, you will have $15 and after the fourth week, you will have $20.
That means it will take 4 weeks to hit your savings goal, if you save your allowance every time.
Should You Save Money?
Every time you get money, you have to consider the tradeoff. Should you spend your money, or should you save it? That is up to you!
When you get older, you will have to worry about bills that your money pays for. For now though, you just have to figure out if you want to save for something big or buy something now. If you really have your heart set on something, take the time to save for it. Being patient will pay off.
If you just want to buy pickles at school every day, you can do that too! That is what is so great about money.
Money can buy you anything you dream of!