#2. During 2006, the Bureau of Engraving and Printing produced 33 million notes a day with a face value of approximately $529 million.
Saving for Something Special – Fighting the Urge to Spend!
Chances are you’ll get some extra cash or gift cards this holiday season. Are you the type that goes out and blows it all right away or are you the kind of kid that saves their money for something special? Even though it’s fun to splurge once in a while, you’ll be better off if you learn to save your money too.
How to Do It
Narrow down exactly what you want to save for, find out what it costs and give yourself a deadline goal of when you want to buy it. Whether you’re shopping for a new smartphone, tablet, high-end sneakers or designer jeans, you’ll be better off if you do a little online surfing first to find the best price. If you want, print a picture of your savings goal to help motivate you.
Next, it’s time to do the math. Let’s say you want a new smartphone that costs $199 and your grandma gave you $50 for Christmas. Good news – you’re a quarter of the way there! Let’s also say that you get an allowance of $20 per month and do odd jobs (shovel snow, walk dogs, etc.) and make an additional $40 per month. How long will it take you to save for your smartphone?
If you find yourself blowing your allowance on movies, pizza or other “must-haves” it could take you a year. But, if you save every penny you can, you’ll be texting and surfing on your new phone in less than three months! Totally worth the wait, isn’t it?!
Apps to Help You Save
- GoalCard – A Facebook app that lets you set financial goals and helps you track your savings progress.
- P2K Money – You can track your allowance or other income as well as what you spend. You can keep a wish list on it as well.
- Virtual Piggy – A free app that helps you manage a budget and your savings as well as donate to charities, etc.