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Never Too Young to Budget

Never Too Young to Budget

For the summer, I decided to work on saving and budgeting, because I really need to understand these two concepts for my future. I know when I go to college, I don’t want to end up broke without choices. So I thought I would share some lessons I learned that may help you too. Grab a pad and pencil and let’s get started.


  1. Every time you get money, try to use the envelope system. This is where you take three to four envelopes and give them labels. The first label is giving: you put ten percent of the money you earn in that envelope, so all that money goes to giving, maybe people in need of help or charity. The second envelope is for saving for yourself. Again, you put ten percent of the money you earn into saving, so you will always have money with you just in case. The third envelope is for spending! Everybody’s favorite word! You put the rest of the money you earned to that envelope, and now you can spend that money on anything you want.

  2. Always have cash! It’s ok to have a debit card, but always have cash on hand. You never know when cards won’t work anymore or a power outage will take out an ATM.

  3. Use coupons! It’s a great way to save money, and no, it’s not embarrassing! Especially after you are done saving and you become rich!

  4. Invest in quality products!  If you do this, you don’t have to worry about buying the same product over and over again. If the product is quality, it will last, sometimes for years, so spend the extra money for quality products.

  5. Save change! Pennies, nickels, quarters, dimes… save it all, because the more change you save, the more money you possess.


  1. Don’t spend all your money as soon as you get it! You will only end up feeling bad and disappointed if you do. Trust me, you will be grateful for the tips from earlier.

  2. Don’t spend more than you have; that’s when this guy called “debt” comes in.

  3. Don’t fall for the marketing you see on TV. and in magazines, and remember: everything is not what it seems. It is the marketing people’s job to make money by getting you to spend more of your money.

  4. Don’t spend your money on unnecessary items. You know, that sweater or dress you don’t need. Or those gym shoes that cost waaaay to much!

Now that I’ve shared what I learned about saving and budgeting, I really hope you put it to the test and use it. This information can really maybe help you become rich one day! I really hope you enjoyed my tips and I challenge you to use it for the next year! Write me to let me know how you’re doing!

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