How to Save Money at a Young Age
Get four jars., Label your jars., Decorate your jars., Use these jars to decide how to use your money.
Step-by-Step Guide
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Step 1: Get four jars.
To build up your savings, it is good to have a system.
You can use the four jar system to help you decide how to use any money that comes your way.Ask a parent if there are four empty jars that you can use to create your savings system.
If there are no jars available, then you can also use four empty soda bottles.
You will just need to find ones with a big enough opening to put coins through or make a slit in the side of the bottle with a pair of scissors.
Make sure to ask mom or dad first. -
Step 2: Label your jars.
To use the four jar system, you will need to label each jar with a different goal: “Save,” “Spend,” “Give,” and “Grow.” You can decide how much money to allocate to each jar when you find some money.
The jar labels each mean something different:
Save.
Fill this jar with money that you do not intend to spend now or in the immediate future.
You might use this jar to save up for a big item, such as a bike or video game system.
Spend.
Fill this jar money that you plan to use for everyday expenses or for something that you want to buy in the next week.
Give.
Fill this jar with money that you plan to donate to charity or to give to someone who needs it more than you.
Grow.
Fill this jar with money that you plan to invest in a savings account that will accumulate interest over the years. , To make saving money more fun, try decorating your jars with pictures that inspire you.
Cut out pictures from old magazines and tape or glue them onto the jars.Make sure that you ask your parents before cutting picture out of magazines to make sure it is okay.
For example, you might put a picture of a bike on your “Save” jar or a picture of someone helping someone else on your “Give” jar. , Each time you get some money, you can decide how to divide your money among the four jars.For example, if you get $4, then you could put $1 into each jar or you could put $2 in to the “Save” jar, $0.50 into the “Spend” jar, $0.50 into the “Give” jar, and $1 into the “Grow” jar.
It is up to you! Keep your savings goals in mind as you divide your money between these goals.
Remember that the more you save, the closer you will be to reaching your goal. -
Step 3: Decorate your jars.
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Step 4: Use these jars to decide how to use your money.
Detailed Guide
To build up your savings, it is good to have a system.
You can use the four jar system to help you decide how to use any money that comes your way.Ask a parent if there are four empty jars that you can use to create your savings system.
If there are no jars available, then you can also use four empty soda bottles.
You will just need to find ones with a big enough opening to put coins through or make a slit in the side of the bottle with a pair of scissors.
Make sure to ask mom or dad first.
To use the four jar system, you will need to label each jar with a different goal: “Save,” “Spend,” “Give,” and “Grow.” You can decide how much money to allocate to each jar when you find some money.
The jar labels each mean something different:
Save.
Fill this jar with money that you do not intend to spend now or in the immediate future.
You might use this jar to save up for a big item, such as a bike or video game system.
Spend.
Fill this jar money that you plan to use for everyday expenses or for something that you want to buy in the next week.
Give.
Fill this jar with money that you plan to donate to charity or to give to someone who needs it more than you.
Grow.
Fill this jar with money that you plan to invest in a savings account that will accumulate interest over the years. , To make saving money more fun, try decorating your jars with pictures that inspire you.
Cut out pictures from old magazines and tape or glue them onto the jars.Make sure that you ask your parents before cutting picture out of magazines to make sure it is okay.
For example, you might put a picture of a bike on your “Save” jar or a picture of someone helping someone else on your “Give” jar. , Each time you get some money, you can decide how to divide your money among the four jars.For example, if you get $4, then you could put $1 into each jar or you could put $2 in to the “Save” jar, $0.50 into the “Spend” jar, $0.50 into the “Give” jar, and $1 into the “Grow” jar.
It is up to you! Keep your savings goals in mind as you divide your money between these goals.
Remember that the more you save, the closer you will be to reaching your goal.
About the Author
Evelyn Myers
A passionate writer with expertise in pet care topics. Loves sharing practical knowledge.
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