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HOW TO SAVE MONEY?

    Saving money as a teenager is a crucial habit that can pave the way for a secure financial future. Learning how to save money from an early age teaches the value of delayed gratification, fosters a sense of responsibility and builds discipline.

    Following some simple rules, teenagers can build a financial cushion for emergencies, achieve short-term goals like buying the things they like or more important goals, such as a car or funding education. Developing this habit also builds confidence in managing personal finances and sets the foundation for a lifetime of solid financial decisions. Additionally, saving as a teenager can reduce reliance on credit and loans, helping to avoid debt traps later in life.

    TIPS AND SUGGESTION FOR TEENS HOW TO SAVE MONEY

    • THINK TWICE BEFORE MAKING A PURCHASE

    How many times have we made a purchase only to regret it immediately afterwards? How many times have we bought under the impulse of the moment and then forgotten the purchased item in a corner? Before buying something, ask yourself some basic questions such as: do you really need it? is the price in proportion to your earnings? could you wait and buy the item during the sales period?

    Often it is also useful to postpone the decision, let a few days pass and see if the urge to buy was just in the moment!

    • SHOP SECOND HAND

    Purchasing second-hand objects is often underestimated, considering them to be already worn, dirty or old. This is actually not the case! Nowadays you can find plenty of items in very good condition that someone sells for reasons that have nothing to do with the condition or relevance of the item. Buying second-hand helps you save huge amounts of money and also helps the environment.

    • TRACK YOUR SPENDING

    Always keep track of your spending, using apps or a booklet where you write down your purchases for the month. This will help you divide your earnings into several areas and check that you are not overspending in the same category, ending up drawing on other savings to cover other needs.

    • SET A GOL

    If you like something or have a goal, carefully consider how much of your income you can devote to that expense, saving small amounts of money day by day that will allow you to achieve your desires in the right amount of time.

    • HIDE YOUR SAVINGS

    It is very important that you put your savings away in a physical or ‘virtual’ place that is difficult to access so that you do not give in to the temptation to draw on your hard-saved sums, whether they are with or without a target. The amount you save should be considered non-existent, as if it had never been there.

    • SAVE ALSO WITHOUT A PURPOSE

    Remember that it is important to save even without a clear goal, putting aside small amounts of money can make a difference in the future. Whether it’s important unplanned purchases, unrepeatable deals or unforeseen bad events, it’s good to know that you always have a financial cushion at hand.