There's one basic principle that stands behind all tips on how to save money. And this principle is spend wise.
Thoughtful spending involves a bit of paper work (of course it can be done in Word or Excel spreadsheets). Putting records down on paper is convenient because it allows to save on electricity bills.
The first thing to do is keep records of all purchases and things you spent money on. When you've been doing it over a month, sit down and estimate your spending behavior. Chances are you will notice that sometims you bought a more expensive meal than you could get in another place. Sometimes you bought a gadget you didn't really need. So if you want to know how to teach teens to save money then just stick to the following rules. While being simple, they'll save your teens a fortune over the course of a year.
Create a list of things you plan to buy, and stick to it while in the store. Do not buy anything else that's not mentioned in your list. This approach will quickly teach you careful planning which itself is a natural money-saving
strategy.
Keep an eye on advertised sales. Very often you can buy say toiletries at handsome discount prices.
Doing physical exercices is a nice way to save on gym membership. You don't need special equipment to stay fit. Push-ups, pull-ups, exercices for different groups of muscles are available anytime, anywhere. Multiply the cost of monthly gym membership by 12 (for the whole year), and you can already start planning where that saved money will go.
Talk less on the phone. Be laconic and stick to the point. Use the phone only when you need it, and not when you just have nothing to do and talk for fun.
Try to sleep at night instead of playing computer games or watching TV. This is a very simple way to follow the natural daylight regime and save on elictricity bills.
Get a piggy bank and fill it with spare change. It's a good idea to start doing this an the beginning of the year. Now when the next Christmas comes nearby, you'll have hopefully enough to buy what you want for the holiday.
Rent a DVD to watch with friends instead of going to the movie.
Avoid going shopping under the impulse. This means that you will have to learn to stay blind to commercials, or at least think a couple of days before buying anything you've seen on TV. Statistics show that people who shop under the influence get addicted to the habit and spend a fortune on things they don't really need.
Take only as much money with you as you plan to spend.
Get a debit card and use it instead of cash. While there are additional costs accrued to the bank services, having no cash will help you to save more money in the long run.
This list of money-saving tips is meant at teens rather than adults, therefore you can find it impartial, and of course it is. However, it's better to start with less rather than trow a thick book on your children. Saving money is a life school, and your teens will only succeed if you teach them
one saving lesson at a time.
