I’ve been working hard all summer long to earn some
dough. Now it’s burning a hole in my pocket! I don’t want to blow it all in one
shopping spree, but I can’t seem to resist the urge to spend spend spend. Help!
Good for you for not wanting to spend your cash right off
the bat. Trust me, it might be hard to tuck some bucks away for a rainy day
when you see a bag you’ve just gotta have, but it’s worth it in the end. We’ve
got a few tips for keeping your
wallet (mostly) closed.
Put yourself on a budget
Once you start making more than just twenty bucks every
other month for your once-in-a-blue-moon babysitting gig, it’s time to sit down
and start figuring out what kind of money you’re making and how you want to spend
it. Is there anything you’re dying to have, like a new iPod? Do you need to
save up for Christmas prezzies? Look into the future—the next few months and
the next few years. Think about driving,
prom and college. It might seem far away now, but when these milestones start
coming up fast, you’ll be relieved you had the foresight to start saving for
the big day.
Keep a ledger
I know it’s totally boring, but writing down your income and
your expenditures is a great way to see first-hand how you’re spending your
cash. It’s easy to hand over a debit card or a crisp $10 bill every time you
think you need something, but that money adds up. Instead of spending
willy-nilly, divide your dough into separate accounts (real accounts at the
bank or theoretical accounts on paper). Save some for the future, more for big
purchases you’re dying to make. Put some aside to spend now. And a bit for
donations so you can do some good, too.
Go ahead, shop yourself out!
Just ‘cause you’re saving most of your earnings doesn’t mean
you can’t indulge. Give yourself a weekly or monthly allowance based on what
you tend to make during each period and let yourself spend or save it as you
see fit. That way, you won’t get the itch to shop ‘til ya drop…and blow all of
your savings.
Good luck, girlie!
BY BRITTANY TAYLOR ON 9/16/2011 12:00:00 AM
POSTED IN On the Job, Make more money