How to Save Money when You're 11 or Younger

Step-by-Step Guide

1. 1

   Step 1: Save the money you are given.

   This is the simplest way of building your money.
2. 2

   Step 2: Ask your parents or guardians to open a bank account for you

   That way, you can earn a little more money on top of your saved money.
   
   They will be able to take care of the legal terms and conditions and authorize a child's account for you. , If you don't open a bank account, have a savings jar or piggy bank to keep your money in.
   
   Make sure it is kept somewhere that won't tempt your siblings to open! If you're worried about keeping the money safe, ask your parents or a trusted person to help you decide where to keep it. , You may be saving for a video game or book, or you may have larger, more long term goals.
   
   Having a goal helps you put aside temptation to buy little things that put a big dent in savings over time, such as candies, magazines or small toys.
   
   Visit the store or check online to see how much money you need to save for your goal. , This will now be your guide for spending, and you can only spend your savings on what has already been noted in this notebook.
   
   If your wants change while saving, cross out the item in your notebook and update with the new item.
   
   If you are given the item as a gift, also update the notebook.
3. 3

   Step 3: one that gains interest.

4. 4

   Step 4: Keep your money safe.

5. 5

   Step 5: Decide what

6. 6

   Step 6: if any

7. 7

   Step 7: goals you have for your savings.

8. 8

   Step 8: Write the thing that you want down on the paper and how much it costs.

Detailed Guide

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