Fastest way to save money.....and not be ATTEMPTED to spend it?

Question

i need a good way to save my money.im about to turn 14 in november and i want to buy a cameraby the next summer which cost like 1,000+. But my birthday is coming up and thats going to give me a boost. What are some things i can sell at the pawnshop from my house that we dont use?

Answer 1

Start a savings account first,at a bank you cannot access easily. Don't get a debit card or online access. As soon as you get money, deposit it in the savings account.

You could have a yard sale and get some money, but you might check the value of antique items and rare toys or collectibles on Ebay first, and sell them that way. You will get more money from them. To get free packing materials, go to the post office and get priority mail boxes, and then hit the recycling center and get packing peanuts, styrofoam, newspaper, or bubble wrap to package.

If you are having a yard sale, do good signs, and advertise it in your local newspaper ahead of time, listing some of the best items. As soon as you close up, keep about 10% for your efforts and put the other 90% in the savings account.

Then, start working some sort of job, like babysitting, windowwashing, cleaning, snow shoveling or garden weeding, etc. Explain to friends, family and neighbors that you are working to save for a camera so you can be a photographer, and you are looking for odd jobs. By doing this, most everyone will have something that needs done, whether its washing windows or organizing a garage or babysitting or weeding the garden or walking the dogs. As with the garage sale, keep about 10% of your proceeds for yourself so you have a little spending money and are instantly rewarded, and put the other 90% in the bank, not to be touched until you have enough for the camera.

Not only will this help you get the camera, it will help you learn how to save, how to work toward a goal, and save for college. Once you get the camera, maybe put away 80% of your profits on photography sales for college, same way.

When I was a kid, I never knew you could take money out of a savings account until you went to college. I put in 100% of what I made in my regular job, working at my parents store, and 100% of birthday money. Then, the money I made by washing store windows, sweeping sidewalks, babysitting, shoveling snow, and growing a garden and selling the produce was what I spent on fun stuff like candy and clothes. I could have saved even faster with the keep 10% and bank 90% rule, and still would have been motivated.

Don't use a pawnshop. At 14, you shouldn't be going into a place like that anyway. You will make more with ebay sales, craigslist for larger items like furniture, and a yard sale.  Plus, whatever you don't sell, donate to a charity resale shop and ask for a tax deductible reciept. Then, ask your parents if you can have the tax savings on that for your savings account. Often, the value of clothing as a donation is more than you could reap at a yard sale.

Just saw your  note...yes you can open a savings account, I had mine started as a baby. You will need to take a parent with you to the bank, and have some money to deposit at the time.

Good luck!  Its good to see a kid with goals!

Answer 2

You have to start thinking S-M-A-R-T. What kind of cutbacks can you make? For example: I drink bottled water. Now at $1 a bottle on something that covers over 65% of our planet is not smart. So I bought one of those water filters that s***w into your faucet. I have bottles that I refil over and over again. I take them to work. Do you have a lot of small appliances around that house that are always on? I cut my electronic bill almost in half by unplugging all the clock radios and night lights. I also bought some of those florescent bulbs that look a lot like a regular bulb. These things use 80% less electricity than regular bulbs. You would be surprised, but these small things add up. I know I was spending money on the water filter and energy efficient bulbs but these things will pay for themselves in a month providing they pertain to you. If you really need the money right away start cutting back on your food costs. Romain noodles cost a dime and they taste just as good as campbells chicken noodle that costs $130 a can. Ok no chicken in romain noodles, but you are probably just missing about 4 tiny pieces of chicken. Put a brick inside your toilet 'chamber'. You will use a little lesser water each time you flush..Before you know it you will be ahead. Wanna be creative? Find yourself leaving lights on? Buy a motion sensor switch, the lights will turn on when you enter the room and will turn off (by a set amount of time) when you leave the room. I have one, they cost $15 at HomeDepot. Need new windshield wipers for your car? Who says you have to buy 2? You only need the new one on the drivers side, leave the old wiper on the passenger side.  So remember you have to start thinking S-M-A-R-T! Yours truly seahorsehawrey.

Answer 3

pawnshop's not going to get u any where exept for the small stuff ebay is pretty awesome (look up on google if u don't know what it is) cause my mom loves it and u can sell stuff like worn out clothe and hey help around the neighborss house. sell books uv already read. just look all around ull find somthing. :)

Answer 4

You could see if your parents could have a yard sale and sell your old clothes and toys that you don't want anymore. Pawnshops are too much of a rip off. I would sell the stuff personally and get more money. Once you get $500, have your parents put it in a 6-month Certificate of Deposit (CD). That way you can earn a little interest and will not be able to touch it for 6 months (so you don't spend it)

Answer 5

I don't think you should do that. I don't even think you can. Pawn shops usually don't deal with kids.

Just save your money and don't spend it. This is a great lesson in life.

You need to work for things not just get them handed to you.