For Students Who Are Interested in Saving Their Money
Updated: Mar 2
Saving money and high schoolers don’t often get along. Most high schoolers aren’t sure how to save money, or aren’t able to stick to it because their method is too ineffective. However, there are a few methods of saving money that are fairly easy to stick to, and don’t require much effort. Some of these, you barely even have to go out of your way or daily routine!
Save Money by Tracking Gas Usage
Gas can be expensive, which can depend on what car you drive. However, this trick to saving money doesn’t have a car preference! Instead of filling up on gas by increments, it’s better to go ahead and fill up the entire tank. When you have to continuously go back and forth between filling up your tank little by little, the cost is actually more because you go several times during the week, while you could really only go once or twice.
2. Take out $50 to spend for the week
This is much easier to do if you live with your parents, and they are able to give you money to do cool things with your friends. If you have a job, or a large allowance, this should also be fairly easy. This withdrawal of $50 will help you keep money in your checking account or your savings account.
3. Save ALL your change and cash it at the bank at the end of every month
This is also a common TikTok trend, for kids to tag along with their friends or family as they take their very large change jar, and turn it into cash using a particular machine that can be found at Walmart and various other stores. Some of these people don’t show if they put it into their bank account or spend it, but the wiser choice would be to put it into your savings!
4. DISCOVER IT Student Cashback:
If you are 18 and a college student (or if you are not, you can wait until this applies to you): They give you $20 every year for good grades, 5% cash back on gas, groceries, amazon, and restaurants. They match 100% of your earned cash back, no annual fee, and it’s easy to get approved for.
5. Saving Money for an Extended Period of Time
Get 50 or 100 colored or white envelopes, a box, and stickers. Write $1-$50 or $1-$100 on each envelope, and pick 2 envelopes each week. Insert the amount of cash written on those envelopes (50 envelopes for 6 months, or 100 envelopes for a year). In 6 months you will have $1275, or in one year you will have $5050. Use the stickers to seal the envelopes. The supplies to make this cost about twenty dollars.