5 EASY TIPS TO MAKE, SAVE AND BUDGET MONEY AS TEENAGER IN 2023

These days there’s nothing like I’m too small to make or save money, in fact getting financial
and money management skills right from teenage age is great. As a teenager nothing is
stopping from you from making money be it online or physically. All these skills are skills that will
last you for a lifetime. Making your own money and managing is not something you will be
taught in school, but I still feel it should be included in school work.
Making money as a teenager is something that will get you ahead in life, although it might seem
to make you grow faster than your age but it’s totally cool, but the truth is that it makes you wiser
and more informed. Soon you will be an adult and these skills are real life that you can practice,
once you have mastered it, it will definitely set you up for financial success in the future.
These tips will help will help teenagers to start making and managing their money young ;

1. Think of what to do to make money:

As a teenager there are lots of things you can do to
make money, be it a part-time job or monthly allowance. At some point, you might feel the
monthly allowance is not enough, that is when you need to think of the things you can do to give
you some extra cash. It does not have to be something stress or time consuming.
As a teenager there are lots of jobs you can do online, what’s stopping you from being a social
media influencer especially when you have a reasonable amount of loyal followers on your
social media handle. From there you can get an ambassadorship contract for companies. Do
you have any talent? Now is the time to improve your talent and show it to the world through
social media. The sweet thing is, on social media the whole world is your stage and it takes just
one of your contents or video to go viral.
You can be a YouTuber, you can work as a freelancer- especially when you have a tech skill.
You can start these things now.

2. Create categories of budget:

budgeting is one of the most essential skills in money
management for everyone, even as an adult. Learning how to budget as a teenager is a huge
step for financial success in life. Budgeting will help know where your money goes and it will
help you organize your account.
Here is how to budget- first list out the things you need to buy, note that I wrote “need”, I mean
things you cannot live out. As a teenager you are not responsible for paying rent of utilities, so
you have little responsibility which will make it easier for you to save. After getting the things you
can decide to save all the remaining money or save three quarter then keep the remaining aside
incase of emergency.

3. Save before spending:

As a teenager, you tend to buy things often on impulse. Most times it
is advisable to save before spending. Saving is not something easy, but luckily it is also a skill
and nobody is born with it, so you can decide to learn. It is one of the skills that you need to
learn, just like budgeting, saving is also a huge step to financial success. The earlier you learn
and master it, the better.
Saving is not something you can learn in a day or week, you will need determination and
consistency. For starters you can decide to save for something you really like—maybe a gadget,
a dress, you can even save for a birthday gift for your mum, dad, siblings or friend. That way
you have what you are saving towards so it becomes easy like that. Saving for little things like
the ones I listed above prepares you to save for bigger things in the future–like buying a house
or car, saving for a business or even vacation and gives you a sense of responsibility too. It is a
must-learn skill for every teenager.

4. Set goals:

Have you ever had some ideas and it sounds great but you totally forgot about it
because you did not write them down? Well it has happened to everyone, including me. These
ideas are most of the time what you’d like to do or be in the future, so next time when it comes
to your mind again write it down in a book.
This is where goal setting comes in, because you need to research your ideas and write the
steps you’d need to take to make them a reality. These steps should be your goals. For example
if you want to be an actor or actress you need to start going for auditions, if it’s a doctor, then
you need a study plan, you need to take exams and prepare for college, if it’s an artist, you need
to plan on how to improve your skills etc. Anything you want to do at all is achievable when you
set your goals right, when you’re determined and you need to believe in yourself.

5. Don’t give in to peer pressure:

We’ve all been there and most times it becomes difficult to
focus on yourself. That phase of life comes with so much pressure, whether it’s fashion trends,
going out with friends, getting the latest gadgets etc. Sometimes you will overspend your money
and even spend your savings if you don’t control yourself. You should not feel bad because you
don’t have the latest gadgets or accessories, it doesn’t really matter anyways. The future, your
future is more important.
This is where you need to have a lot of self control and determination. Self control is also a skill
that needs consistency, you need to practice self control everyday to master it. It is also nice to
dress nice and look good but wear what you have with contentment. Make sure it is neat and fits
you well. Then focus on your goals, your savings and your future in general.