Difficulty: Explorer (Level 1)
Do your parents give you pocket money every week or every month? If so, you’ve probably experienced the simple pleasure of buying something for yourself.
You might be tempted to spend all your money at once. However, it is better for you to learn to manage money when you are young. These ideas will help you spend wisely.
If you want to save money, it helps to know if what you want to buy is a need or a want.
A need is something we must have to survive or do important things. Food and water are examples of needs. A want is something that is good to have but that we can live without. You may need a water bottle for school, but you don’t need a new one if your old one isn’t broken.
Only buy things you truly need or want. If that’s hard for you, ask yourself: “Will I still like this in one year?” If yes, maybe it’s worthwhile to buy it.
You can also think about how to use your money. This is called budgeting. If the item you want costs a lot, you can save a little money each week. Then it will feel satisfying when you can finally buy it.
Saving money is difficult for everyone, even adults. But you can do it with the right amount of practice.
