Managing the whole week or the month with a stipend is the first step for teenagers to know the money management fundas.
So, now you have become eligible for a pocket money, right? So, before you go on a spending spree and be cash trapped, here are ways to go about making life beautiful with the money your parents have allotted to you:
Spend carefully
Do not be tempted to spend on stationery too often. Your stationery, books and study spending are already being taken care of by your parents, right? So, save this effort and think about spending the money on more useful occasions.
Do not blow it up
Always share the restaurant bills while you go out with friends. Make a note of who paid how much and if somebody owes you any money during such restaurant outings.
Make a note of spendings
Jot down where and when and how much you have spent so far. If it is for petrol, exactly how much, if it is for having tea at the canteen, how much etc. This will help you calculate and keep a tab on your spending ways.
Save a bit for the next month
Even if it is Rs 100, the thrill of saving is another story to tell. If you go on saving every month some money, after a certain number of months, you can spend that money on buying some useful gadget or book for yourself.
Source:- TOI
