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Top 5 Ways To Save

Do you find you spend your money faster than you can save it? Kidzworld gives you some tips in the Top 5 Ways To Save!

Does your money always burn a hole in your pocket? Here’s a few ways to avoid splurging on unnecessary stuff and save for that big purchase.

Top 5 Ways To Save

#5: Make Smart Purchases

It’s hard not to blow your money as soon as you get it, but think first before you buy something. Is it worth the money? Will you still be interested after a week? Try to avoid trendy clothing or electronics you’ll tire of quickly. Invest in quality stuff!

#4: Always Save 10 Percent

If you save just a small portion of your allowance, birthday money or pay cheque, that money can grow fast. Imagine if you saved 5 dollars every month. At the end of the year you’d have $60!

#3: Keep A Purchases Diary

You’ve probably heard similar advice about nutrition. It’s good to keep track of what goes into your body—and it’s just as important to pay attention to what goes out of your wallet! Seeing all your purchases written down will help you figure out where all your money is going and if you’re buying stuff you don’t need.

#2: Start A Penny Jar

You’d be surprised how much you can save just by throwing your pennies in a jar. One cent might not seem like much, but if you manage to collect a hundred, that’s a dollar right there.

#1: Open A Bank Account

Did you know you can make money just by putting it in the bank? That’s called interest. Most local banks give you around 2 percent interest, but internet banks give better rates, so shop around. It’ll be worth it!