Lazy Genius Mom

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12 wk money challenge for teens. If you want to start managing your money and build savings for something special this easy beginner savings plan is for you.
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Beginner Savings Plan for Teens- Save Nearly $400 in 12 weeks!- Free printable tracker

What would you do with an extra 400 bucks?

Budgeting and saving can be tricky. There are hundreds, if not thousands, of books in circulation dedicated to just this topic alone. The fundamentals of saving should be taught at a young age. This way good saving habits are part of the thought process involved with decision making regarding money. As soon as a kid begins to count, you can begin teaching good savings habits.

If you haven’t learned how to save or budget before now, don’t worry about it. We all have to begin somewhere.

Teen money challenge, learn to save nearly $400 with this easy to follow beginner savings plan.

This easy to follow beginner savings plan will help you grow your first bit of savings over a 3 month period. Once you see how easy it is to set aside cash, you can move up the line to more intensive saving and then investing strategies. But let’s not get too far ahead of ourselves.

Click here to download the Free Printable PDF- Save $390 in 12 weeks

12 week beginner money saving challenge. Save $390 in 12 week with this easy printable tracker.

Start Your Savings Young

When you learn good money habits at a young age you have one distinct advantage ——>> TIME.

Why? 

  1. Compound Interest- You have more years for your money to grow on itself
  2. Time to correct mistakes- If you get into money troubles you’ll have time to correct them
  3. Time to save to fully pre-fund purchases- Want a new couch, car, horse, island? Why take out a loan when you could just save for it and pay cash? No debt!
  4. Pay for college/ no or limited student loans- When you know exactly how far a dollar can be stretched, you get creative in ways to pay for things. Grants and scholarships are out there to be found.  With no excessive loans hovering over you, you can start really saving for retirement and for a home at a younger age.
  5. Pay off a home mortgage before retirement age- who wants to still be paying out a monthly mortgage payment into their 60’s and beyond? Even if you take out a traditional 30 year loan, if you do it around 25, you’ll be finished by 55.

If you only start saving young for ONE reason- make it this one

To gain experience.

You cannot get better at somethings if you never start doing it. You’re bound to make some mistakes along the way. Good things there are so many experts out there to show you a path. Choose a practical one and get started. If that one doesn’t work out, choose another one. Eventually, you’ll find the match for you.

Want an even easier beginner’s savings plan?

Get an old pickle jar or shoe box!

If you put away a quarter, just 25 cents, every day for a year you’ll have $91.25

50 cents for a year = $182.50

$1 per year = $365

You get the point. Put away something. Start today, go into your purse or jacket pocket or your car’s cup holder and grab that change.

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