For teenagers who do not earn, it is very easy to spend money and saving money is never their criterion. This is because they have no such responsibilities on their shoulders. But the fact is that surviving in this time when the global financial crunch is at its peak is a big issue. People are living form hand to mouth. Those that belonged to the middle class have been thrown down a level and those who are rich have become richer. This has discontinued the middle class once and for all. Commodities, groceries, any kind of a useful product, oil, gasoline etc all have been hiking in prices. People have been under debt burdens and are not able to pay for their loans in time as well.
It is best to start saving at an early age as it will do good to you in the future. If you are a teenager and you are reading this post then you can just start now on managing your personal finance now, which can be done through the following ways:
1) The sooner you save, the sooner you will be rich. It is better to save on the things that you take pride in, the most. Shoes, books, bags and stiff from branded clothing and accessory shops can only give you a timely satisfaction but they all will cost you a lot of money. I am not saying that buy form cheaper shops, but I am just saying that start buying stuff that you need, and not want. Recycle stuff, use old stuff, get creative in using the stuff you have. Throw out a garage sale and if you do not want any stuff, sell it.
2) It is not about your repute but, about how you act. This is another criterion you have to follow. Just do not get upset if a neighbor will pay you 3 dollars for taking care of their kids at home one time. Earn through smaller means when you can and save the money up. Save money from doing small chores for your neighbors. Wipe screens if you have to on a gas station everyday for the amount of money that you can get. Save the money. Do not spend it on unnecessary things.
3) Investment is a necessary thing. Always remember that if you know someone who is trustworthy, like your parents or your relatives and you know investing money with them will return you money while keeping the home amount safe, will be a good option. You can get a monthly income as well and you can save that as well.
For all those who would like to save money can even pay their parents with some amount and the parents will always keep that money saved. Get books form library in your college to stop spending money on books that you may not need after you complete your degrees. This will be good for you.
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