Managing and Saving money could be as easy as pie! Getting your parents to buy everything you need and want and therefore all your pocket money would then be saved up over time for that something special.
If only it were as easy as that.
So what I do is this, I ask my mum and Dad to split my pocket money in two, then I get half paid into a savings account which my mum looks after and the other half, I get to spend each month. This goes into my money box, to spend on magazines etc..if I really need or want them.
So saving is easy…if you have the willpower…
So what I do is this… If I think I need a magazine, I think about the last one I bought and decide whether I actually read it all… Did I use any of the freebies on it? Did I find it interesting…? If the answer is yes, then I usually will spend on a new one but I limit myself to one a month.
As far as the cash I have in my money box goes, I separate that into 3 money boxes at the end of the month. One is for holiday savings, one for going into town with friends and the last one for magazines etc… I find this works best and keeps me to a budget, which is always useful.
As for my bank account, well the money in that helps out if I want new clothes or a bag or something, then I don’t have to pester mum for the money, but I do have to ask her for my bank card.
So saving isn’t easy, managing money isn’t easy, but with a little thought, willpower and help….it can be a little easier than you thought.
Author: Hannah Gedefroy
Age: 11