April is Financial Literacy Awareness Month. To many people,
April means it’s time to pay taxes. It’s also a good time to reflect on your
spending habits and work on saving, especially with college around the corner.
Even if you don’t have a steady income right now, you can still follow these
steps to save money in high school:
1. Create a savings
plan. Set aside a certain amount of money at specific intervals: each week,
each month or each paycheck. Start small with $5 per week, and eventually work
up to higher amounts. If you don’t already have one, talk to your parents about
opening a savings account so you can transfer the money. Most savings accounts earn
interest on the deposits you make, which means more money for you!
2. Make a budget, and stick with it. A
budget should include your income – how much money you bring in – and your
expenses – how much money you spend. Take the time to consider how much money
you have, how much you make and what your spending needs are. Be honest about
what you make, and think carefully about what you actually need to buy.
3. Look for easy ways
to make and save money. Although it’s fun to have the independence of a
car, try carpooling with a neighbor or riding your bike to school. Instead of going to see your favorite
artist for the fifth time, offer to babysit for a weekend. Become the
neighborhood dog walker: You’ll make money and get exercise too. Or use your
creative skills to sell crafts on Etsy. The possibilities are endless.
Just like any other club or organization, there are
membership costs with joining a sorority. And if you fail to meet these
financial obligations, you’ll likely face consequences. However, chapters are willing
to work with you to create a plan that fits your financial situation. To avoid this,
it’s best to save now for college and any expenses that will arise. There’s no
such thing as being too prepared when it comes to your current and future