Learning how to budget money as a teen is really helpful, especially since things are getting more expensive. Building good money habits now can make things easier in the future. One good step is getting a bank account with both checking and savings. Checking is for everyday spending, and savings is money you don’t plan to touch. 

When you get paid, try putting about 10-20% into savings. If you want to save more, that’s even better. Over time even small amounts can add up to a lot. It’s important to watch what you spend before buying something. Ask yourself if you really need that Chick-fil-a run or if there’s food at home. Small purchases may not seem like a big deal, but they can add up quickly if you’re not careful. 

 I interviewed a few teens to see where they were with budgeting. Some teens said they don’t have a bank card but instead use a cash app card. While it can be convenient, it can also be risky without really tracking it. A few teens also said they don’t have a savings account and usually end up spending  most of their money; some even admitted they don’t realize how much they’re actually spending until their money is gone.  

It’s helpful to set a small weekly budget, specifically for things like online shopping or eating out. Decide how much you’re comfortable spending, so you don’t go over that amount. You can also download store apps where you shop and scan receipts to earn points and save money. Try reducing eating out to once or twice a week to spend less. It’s okay to buy things to reward yourself, but try not to spend based on emotions. In the end, budgeting is just about being  more mindful of where your money goes.