10 money-management tips for managing your pocket money

By Flinston
4 Min Read

Money-management tips Pocket money allows you to attain some independence: you no longer have to rely on your parents to purchase you what you desire or need. But you still need to know how to deal with it… Here are some pointers!

Plan monthly expenses

Money-management tips A trip to the movies on the 14th, your best friend’s birthday on the 23rd… Certain costs may be planned from the start of the month! Calculating them helps you to know how much money is still left, allowing you to relax and enjoy the remainder of your time!

Find a safe place to store your savings

Money-management tips A dedicated box or a wallet kept at home are ideal locations to save your pocket money. If you don’t trust yourself, you may even ask your parents to keep it! It’s preferable to put it, say, in your tote drawer, where you can’t locate anything…

Don’t take all your money on yourself

Money-management tips Even while it’s wonderful to have a full wallet, it’s preferable to leave your money at home and just take what you need! This keeps them from being misplaced or stolen.

Use a piggy bank

Money-management tips The piggy bank is a timeless classic! It doesn’t matter whether it’s in the form of a pig, a cow, or a cartoon figure. The goal is simply to be able to store your pocket money (or a portion of your pocket money) in a location that you cannot open all of the time. We push ourselves to save money in this manner so that we may purchase a good present later!

Set goals

Money-management tips It’s all too simple to spend your money on anything you want at the time: sweets at the bakery on Monday, a new app on your smartphone on Wednesday… Finally, as the account increases in value, there is nothing left for you to buy what really makes you happy! So, by establishing a goal (the new PS4 game? ), we are inspired to keep track of our spending and save!

Read more: How to Easily Download INSTAGRAM Videos (iPhone & Android).

Write down your expenses

Money-management tips Keeping track of your costs gives you insight into how you spend your money. Yes, it is often a surprise at the end of the month: we don’t understand why we have nothing left. Even little costs, when added together, may quickly add up to a huge number…

Set a weekly spending limit

Money-management tips Setting a weekly limit prevents you from spending all of your pocket money in the middle of the month!

Open a bank account

Money-management tips You can effortlessly monitor your spending with a bank account from a computer or a phone! We take a peek to see where we are as soon as we need to.

Furthermore, establishing an account is really straightforward.

Set aside an amount at the beginning of each month

Money-management tips This strategy may seem easy, but it is seldom used, despite the fact that it may provide significant results! What is the principle? Set a monthly amount that we will not spend: we save it, and after a while we have a huge quantity of money that we are proud of and with which we may have fun! The most difficult part is not making up reasons not to do it at the beginning of each month…