9 Clever Saving Hacks for Teenagers - This will save you a fortune! 💸
1. Make your savings journey a game 🎯
Set ground rules. Every time you find a Rs. 20 note, EVERYTIME, put it aside as savings in a different wallet. Manage to do this and you will save 400-1000 rupees every month!
2. Maa ke Haath ka Khaana FTW 🥘
The small amounts you spend daily on chips, chocolates, maggi, or any other junk food order can amount to Rs. 200-1000 a month. It's crazy how much you can save just by cutting down on these impulse purchases.
And honestly, once you go to college, you're gonna miss your homemade food, so might as well enjoy it while you can. This will save you a bunch of cash and there is an added perk of staying fit!
3. Spend half, Save half : The Ninja Technique to save money 🐱👤
The easiest way to smart spending is to spend only half of your pocket money and save the other half. Okay maybe it's not that easy 😛. But once you get to it, it will become second nature for you.
Ideally your savings should hold at least 3 months worth of pocket money as emergency fund. Honestly, you will love the pride and confidence that comes with saving money.
Want to know more on how to be budgeting baddy? Check this out! -
4. Mo' Money, Mo' Problems : Take your pocket money in Installments 💰
Having to ask your parents for money again and again is a lil bit embarrassing right? EXACTLY! Ask your parents to give you only a part of your pocket money at one go. This way, your expenses will be in check and you will become so much more conscious.
5. Spy on your money : Track where your pocket money disappears 🔎
Think about all the things you want to invest in - and all the things where your pocket money is going to waste. Divert those funds to that course you wanted to buy, or that expensive laptop you always wanted. Money spent on personal growth, will become your greatest investments.
6. Keep an eye out for student discounts! 👀
Some of the biggest brand like Lenovo, Adobe, Microsoft, One Plus, Apple, Coursera, Air India, Indigo, Amazon Prime and so many more offer big student discounts. There is no harm in asking if a shop offers student discount.
Discounts not availed is as good as money wasted.
7. Earn more, Save more! 💸💸
Finding internship opportunities, or freelancing for teens has never been this easy! Check out the below post on how you can earn some easy cash.
If you want to start something of your own, you can always seek guidance from experienced folks on sites like LinkedIn, Twitter or Instagram. Looking for some inspiration?
Here's some of our featured #teenpreneurs making the world a better place - Kian Godhwani (16 y/o) and Sakshi Agarwal (19 y/o).
8. Be honest about your Finances 🛒
Everyone makes impulse purchases, and it's okay. The important part is to understand where you are spending and then slowly making changes.
Have an honest conversation about money with your parents or a friend or any other loved one. Tell them "Hey, when I am about to make this unnecessary impulse purchase, just stop me!" Share your saving goals with people close to you and there will always be someone to help you move forward.
9. Earn while spending money 🤑
Yes. You read that right!
With the FamPay App, get cashbacks, reward and, freebies 💰🏆🎁 that can save you 1000s of rupees. It's India's most rewarding app for teens. Get exclusive access to career building masterclasses and counselling on diverse topics for FREE + cool giveaways from One Plus Ear Buds Z, Play Station 5 , Amazon Echo Dot and much more!
You can also participate in Weekly Saving Streaks and earn rewards, cashbacks on every payment you make with FamPay. Download FamPay now to start saving, earning and winning rewards as a teen!
Let's make savings cool again 😎!