Ways to save money for teens

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Including a post last week about fun ways to save for kids. Teenagers are expensive. I tend to think kids get more expensive as they get older!

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Saving money is a habit that can take time to build, and even some adults have yet to master it. With that in mind here are some things you can do to get your kids—and perhaps yourself—on the saving bandwagon. Explain that needs include the basics, such as food, shelter, and clothing, and wants are all the extras.

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Get a piggy bank if you want to keep your money at home. The point is just to have something that you can deposit your bills and loose change into. If a money-saving container is your only option right now, try to make it harder to access.

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If you have two jobs, set up a direct deposit to your savings account for one of your paychecks. That way, you never even see the money, which makes it easier to forget about and save until you really need it! Give Your Opinion If you're always telling friends what's hot or notspeak up and get paid!

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In fact, if you try, you can easily save your first stack in a year or less. And who knows? The sooner you can figure out the savings strategies that work for you in the short-term, the sooner saving money will become second nature, like brushing your teeth in the morning or tying your shoes.

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Client Login Live Chat. If you teach your teen how to make smart money choices now, it can have a lasting impression on their financial future. If your teenager does not already have a savings and checking account, you will want to make sure that they get one ASAP.

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Taking control of debt, free debt advice, improving your credit score and low-cost borrowing. Renting, buying a home and choosing the right mortgage. Running a bank account, planning your finances, cutting costs, saving money and getting started with investing.

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It can be hard to save for your first big buy—especially when cash is limited. You just need a little patience and a plan. Do some research to find out exactly where you can get the best deal and how much it will cost.

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Saving money is easy for some of us. But it takes some real effort for many of us. Saving means resisting the urge to buy those fantastic shoes or new video game.

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Content Type: Article. Here are five practical lessons that will show your teen the value of responsible money management. Encourage your teen to pay him or herself first by putting a certain percentage of the money he or she earns into a separate savings account.


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