Teens Saving Money / How To Save / Stretch A Buck And Stop Splurging and Spending

Teaching teens how to save money and stretch a buck can be an overwhelming challenge especially when we as parents are not so great at it ourselves. Teaching for me has always been a work in progress.

During these uncertain economic times, teaching my son and daughter to save even some of their money has been tough. Living in a materialistic world, kids are inundated by their friends and the media telling them they need more stuff. I try to be careful in teaching my kids in a way that they can learn that money doesn't solve everything so hopefully they will not get sucked into that false belief that it does.

I've gone as far, when the chance arose, to introduce the many bible verses that teach eternal truths about money. These verses can provide a springboard to discuss how best to view money and how to develop sound financial habits. It is more important than ever for young adults to be prepared for the financial challenges that lurk ahead. Teaching them about money creates an awareness that they will carry with them for the rest of their lives.

Getting Smart About Making It, Saving It, and Spending It!

The newest edition teen guide by Jessica Blatt empowers teens by showing them why money matters. This book is packed with sound advice and innovative ideas and would make a great gift for any teen saving money or trying to stretch a buck to help them manage their money wisely. It gives real life examples showing teens that smart money habits aren't just about scrimping and saving but also about creating freedom, choice, and independence. The advice this book offers is worth a million bucks to your teen saving money.

"The financial preparedness of our nations's youth is essential to their well-being and of vital importance to our economic future," "In light of the problems that have arisen in the subprime mortgage market, we are reminded of how critically important it is for individuals to become financially literate at an early age so that they are better prepared to make decisions and navigate an increasingly complex financial marketplace," Ben Bernanke Federal Reserve Chairman.

know how to be a smart consumer.

know how to set goals and know what a short-term and long-term goal is.

know how to be a savvy spender.

know how to compare prices.

know how to be a price detective and how to set a goal for something they want to buy.

Making savings a regular part of your life, along with spending is a great way for teens to develop good saving habits. Here are a few tips to help teens save money:

Save before spending - take your savings out immediately before spending any of the money.

Don't carry any cash - you don't need to always have cash on your person.

Teach yourself discipline - go to the mall without buying anything.

Only spend dollar bills. Put the change in a jar or piggy bank for savings. That way you will always be saving a little.

Keep a routine. Every time you get money, put some away.

Take only what you really need for spending and put the rest where it is difficult to get at.

Decide what percentage you will spend and what will go into savings.

Wait a week or two before considering a major purchase. By then you may not want the item or the price might even go down.

Start with small savings and increase a little at a time.

These tips should help you get started in saving your money.

A penny saved is a penny earned. ~ Benjamin Franklin ~

Empty pockets never held anyone back. Only empty heads and empty hearts can do that. ~ Norman Vincent Peale ~

He who loses money, loses much; He who loses a friend, loses much more; He who loses faith, loses all. ~ Eleanor Roosevelt ~

If a person gets his attitude toward money straight, it will help straighten out almost every other area in his life. ~ Billy Graham ~

Friendship is like money, easier made than kept. ~ Samuel Butler ~

A bank is a place where they lend you an umbrella in fair weather and ask for it back when it begins to rain. ~ Robert Frost ~