With school holidays coming up, you might be wanting a little extra money to do something fun with your friends. Saving money can be hard when you’re a kid, but we’ve got a few ideas on how you can save a little extra pocket money these holidays!
Make a savings plan
Got something in mind that you really want, for example a new bike or a concert ticket? Find out exactly how much it will cost you and create a plan to work towards that. This can help you stay motivated and track your progress.
Do some extra chores around the house
While you’re on school holidays you’re going to have a lot of extra time, so why not spend some of it earning extra money. Ask your parents if there are any jobs that need to be done around the house like washing the car or mowing the lawn. You can even talk to your neighbours to see if there is anything they need done that you could help with.
Keep your money somewhere safe
When saving up your pocket money, it is best to keep it somewhere safe. Don’t keep all of your money in your wallet, since it is easy to accidentally loose. If you’ve got a bank account, you might want to put your savings in there and keep some spending money handy.
Make sure you really want something before you buy it
If you are saving towards a goal, you might need to cut back spending on smaller things you don’t want as much. This might mean you skip getting the extra-large popcorn when you go to the movies with your friends, or don’t buy any new clothes for a while. Making little savings everyday can add-up quickly to help you reach your big goal.
Want to learn more about how to keep your pocket money safe and protected? Check out our Bank Safe Guide at movebank.com.au/youthbanksmartguide.
This blog post is for general information purposes only and is not intended as financial or professional advice. It does not have regard to the financial situation or needs of any reader and must not be relied upon as financial product or other professional advice. You should seek your own independent financial, legal and taxation advice before making any decision about any action in relation to the material in this article. Railways Credit Union Limited trading as MOVE Bank ABN 91 087 651 090. AFSL/ Australian Credit License number 234 536 | ABN 91 087 651