What the best way to save money?

I'm 12 years old and I get $25 a week. My lunch money is $20 and the $5 is allowance. Usually, when I get my money, I put $20 bucks in a jar and use the $5 as lunch money for the whole week. During the week, sometimes, I get out of hand and uses the $20. There goes my $25 dollars. So, what's the best way to save money? I have things that I am planning to buy that's why I need to save.

Public Comments

1. Open a savings account at a local bank. There are many banks that offer special accounts for children with much lower opening deposits. Get in the habit of leaving the money you put in the bank alone until it reaches a predetermined level for the specific purchase you want to make. Get in the habit of putting a little bit of every amount you get in your savings. You will be earning interest on the money you put into the bank. As the bank pays you interest, you are also earning interest on the interest they paid you. This is called compound interest and is a great way to start saving for your future. as well. Good Luck. It's nice to see a young person interested in saving.
2. maybe you want to start packing a lunch. take some snacks to school...maybe carrots, celery...just cut back on what you eat. don't spend your lunch money on junk food. eat a healthy breakfast before you leave home. i doubt if you would be as hungry in school
3. simple in order to gain you should sacrifice meaning if you want to save most of it try to spend a 10 dollars a week including your instant expenses, you know saving is crazy but nice because you can but what you want depends how much you save ohh.. by the way if you can save most of your allowance you have a better future waiting i mean you can control your self, it is an alternate way how you interact with annoying people and problems would come to your life, controlling is related to discipline acts so try it and believe hehehe... its COOL
4. You are spending entirely too little on food..And God knows what kind of food..Be careful !
5. i used to do the same thing, but dude, you need to eat. 5 bucks for 5 days? thats like a gatorade for lunch. it's not about saving money that's your problem, it's about making it. use your lunch money, but think about asking your parents for a larger allowance by doing more work around the house, improving your grades, or find things that you can recycle. Although you're twelve, there are places that'll hire you for easy tasks so try looking for a part-time job. LAstly, be a smart buyer. what are you saving up for or want to buy? make sure yopu spend your money wisely and on something you really need.
6. The only way to save money is by resisting the temptation to spend it all.
7. Sounds like you dont have enough to save .I would try to find ways of making more money.That way you can buy what you need and have more oppritunities to save.Its not that you dont want to save,it's that you dont have enough left over to save.And you will always have to give up things you want to save money.Try to pick up some odd jobs.More money you have the easier it is to save a little.Glad to see you are starting good habits with your money at such a young age ,you'll get better every year.