For Early Savers/Teens (0-18)

Thinking back when I was in my teens, what I would say to myself back then…

Work at a job that you can benefit from. Ask yourself where does all your money go? If coffee, work at a coffee shop. If shoes, work at a shoe store. If eating out, work at your favorite restaurant. You get the picture, typically you will receive a discount from your employer. If you are spending money there anyway, why not get a discount, this saves you money. I didn’t have any bills as a teen but some of you might so be sure to budget (See For Young Adults (19-21) page)

  1. Save 10% or more from the money you receive, pay your bills and spend the rest as you please. Enjoy being a teenager!

Set up a Bank Account with Interests for Early Savers. At any bank as a youth, you will have sign up for an account with your parent or guardian as a joint account.

Research banks in your area that encouraging kids to save by having higher interest by keeping money in your account.

Note: Interest- money paid regularly at a particular rate for the use of money lent, or for delaying the repayment of a debt. Basic terms: you will receive money for keeping in the bank or another financial institutions that offer this benefits

If you don’t work but get money from family for birthdays, allowance, holidays, etc. you can apply this same logic.


  • Save at least 10% each paycheck. Note: the more you save the better, trust me – over the years I have seen the benefits of saving early. Example: Make $10/hour save $1 per hour you work. Whatever you make, use this formula to see how much you should save: (Check amount X .10) Example: $300 paycheck (300 x .10 = $30) to save 10% of your paycheck. If you want to save more change .10 to whatever percent you desire


15% = .15

18% = .18

25% = .25

  • If you have direct deposit, automatically transfer 10% or more each paycheck to a saving account and only spend what’s in your checking/ATM account. No checking account, put your money in a secret place, piggy bank, jar, box, under your bed, anywhere that is safe. Just put it away and try your best to forget it unless you are putting some money in it 🙂






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