How can i save money from my allowance?

Question

I have been wanting a Mac Book ever since i saw it. Of course my parents wouldn't buy it for me. I'm a sophie in high school and although I don't really need it till' college so i have a lot of time to save and earn money but i always seem to spend it on some useless things.

Answer 1

I always put 50% in my wallet and 50% in a safe hiding spot.

Answer 2

just don't spend it. use self control

Answer 3

the best thing to do is to give any money to a parent to look after in a bank account until you've saved enough, and ask them not to give it to you until you've saved enough.

Answer 4

When my children were growing up, I always taught them to pay themselves first... whether it be from pocket money or later wages. By that, I mean, always take a minimum of 10% out and save that for the proverbial rainy day. That way you will always have money left over and you can save for something special. Once you see that amount growing, it's very hard to justify spending it.

If you find it too hard to actually save, ask your parents to withhold 10% of your allowance  for you and deposit it into an account that will only give you interest if you don't make any withdrawals for the month. Add to it any time you can, perhaps with gift money or any earnings, you will get your Mac in no time, and yes, they are great!

Another good saving tip, is never buy anything the first time you see it. It's easier if you don't have the money with you. Think about want and need... do you need it or just want it? Work out a budget, so much for entertainment, so much for extras like food out, etc. Carry a picture of the Mac in your wallet so it reminds you of your goal every time you go to spend money.

Good luck.

Answer 5

I'm in the exact same situation :)

i understand how irritating it can be especially if your allowance isn't that large!

what i do is split the cash cause i cant help but spend money! divide your allowance in half and put one half in a place you know you wont attempt to get money out of! (like with your parents or in a cupboard!) and keep the other half.

soon enough you will accumulate enough cash for the mac book and still have some money to spend on other c**p!

hope that helped :)

Answer 6

Lol I had that same problem. This is what I did.

Step 1) Split the money equally.

Step 2) Put half of the money in a jar of some kind.

Step 3) Make your parents hide it somewhere where you can't find it.

Step 4) Give them the money to put in the jar after you have halfed it after receiving it.

Step 5) Keep doing that until you have enough.

I know it sounds silly, but at least this way you can't get to it, no matter how tempted you are. Good luck!

Answer 7

Open a Scottrade account and buy some stock.  I did it for my son and it works great.  Once you put money in and start investing and you see how much you can earn you won't want to take it out.  This is not at toy!! this is serious investing  Its the same as a savings account but much more fun and its free.  If you do good you can buy your Mac book with the profits you earn and never touch you savings.  If only my parents had done this for me when I was ten I would be rich today.  No kidding I did not learn about saving till I was in my 30's and I have saved hundreds of thousands of dollars.  Any one can do it.

Answer 8

You should be old enough to have a savings account, so drop whatever you can in it whenever you can (deposit at least twice a month).