From a young age, I’ve always been encouraged to work for something I want. For example, I remember being 12 and wanting a pair of Thierry Henry Nike football boots that costed £55 and was told if I wanted them, I’d have to work for them.
So, I helped out with odd jobs around the house collecting pocket money along the way. By the time I’d saved up enough cash for the boots, they weren’t on sale anymore. That bitter disappointment was my first taste of life as an adult.
As I grew up a little more, generating the cash wasn’t too difficult because I just worked as hard as I could to get the money quicker. The only thing I found impossible was saving it. My parents would always tell me that my money burnt a hole in my pocket – it was like I needed to spend it the second I had it.
That got me thinking. I’m probably not the best person to ask when it comes to the secrets to saving money. But I did a little digging and found some excellent points that will help you save up that pocket money to get finally get what you’ve been dreaming about for so long.
Figure out exactly what you want to do with the money you saved. Cut out a picture of the item you would like to buy and its price from a catalog or magazine. Stick it onto the wall in your room or somewhere where you would see it often. Remind yourself that it’s worth hoovering, and raking the leaves.
Get a piggy bank or other means of storage. Wallets might not be the best choice as they tempt you into spending your money due to its portability and easy access. I used to one of those giant plastic coca-cola bottles. Filling them up with pennies and other short change takes a while but boy does it pay off.
Find a place where you won’t be tempted to get it out and spend it. You may actually have to hide your money from yourself if you get tempted easily. If your money is out in the open, you might be tempted to spend it. But also be sure it isn’t so difficult that you forget about saving or even where you put the money entirely. A sibling or parent’s closet may be a good idea, or you may even have them hide it from you over a period of time. That way you will have to go through them to find money to spend. Make sure your sibling won’t take it though.
Tell someone that you are saving your money, so that they can keep you from spending it. Firstly, make sure you trust this person. You don’t want to find out that they’ve been dipping into your hard-earned. You may get asked “who’s it for”? Or “what’s it for”? So be honest with them and say you’re saving for something you need, or maybe you want to buy a present for a special someone?
Remember that every penny counts. Pick up every little coin you see out there and remember that no matter how little you spend, it’ll make a huge difference in the long run. It’s just like 100,000 individuals saying that their vote doesn’t matter, but together they can make a difference.
If you are going out with your friends, it is suggested that you guys do something that doesn’t involve spending money such as going to the park, or playing football. Also, if you are at a friend’s house or at your own home, instead of buying a water at the shop for £1, save the money and take a trip to your house or just drink tap. It’s free!