5 Easy Ways to Save Money as a Teen

Saving might sound boring and dreading, but it is actually pretty simple and way less painful than you may think. 

Saving money means more freedom. It not only builds up good money habits for life, but it also allows you to get that car, college, phone, or concert that you want to go to. A small saving can turn into a big reward in the future. 

To do that, here are 5 easy tips:

1. Set a goal: Saving is way easier when you know what you’re saving for. Write it down, make a vision board, or even change your phone wallpaper to a picture of it. 

   
   

2. Use apps to track spending: You can reference our resources page for recommendations of the best apps you could use, such as Mint, CoinKeeper, Goodbudget, or the notes app on your phone, to track where your money is going. When you actually see where your cash is going, it’s easier to cut back on random spending. 

   
   

3. Find cheap or free ways to have fun: Hanging out with friends doesn’t always mean spending money. Host a movie night at home, go to the park,

   or try free local events that are just as fun, but don’t have to be expensive.

   
   

4. Save a little every day: Even setting aside $1 or $2 daily can grow quickly. Keep a jar, or use a savings account, and watch your progress add up to like $30–$60 without even trying.

   
   

5. Know if it is a want or a need: Before buying something, stop and ask yourself: “Do I need this, or do I just want it?” That one question can save you from spending money unnecessarily and keep your money safe. 

Saving money as a teen may seem hard at first, but start small, stay consistent, and before you know you’ll see your savings grow faster than you think. Start small today, and your future self will thank you!