Learn not only how to save and spend money, but also what credit is and how to establish it. Job hunting tips, interview skills and ways to start investing are also some of the subjects we love to share with our Teen savers. We currently have student-run credit unions in high schools throughout the area and often give classroom presentations. During which, we share financial tips and play games to show how money works in fun ways.
Pen Air wants to thank YOU for making Youth Week a success last week! Now that our publication's online, let's throw it back a bit to our essay winner last quarter. Savannah B. was featured in our winter newsletter for her awesome essay on how she saved up for a car. You set those saving goals early and you'll learn that your sacrifices are well worth it. Here is her essay:
It Pays to be Thrifty by Savannah B.
For me, buying my first car was my ultimate dream. Having a car meant that I could finally be a responsible young adult, and I would be able to get a job and not have to rely on my parents for rides. I knew getting a car would be no easy task, and it would require a lot of thriftiness on my part.
To get enough money to buy my car, I knew that I would have to cut back on spending. For example, I started drinking water instead of buying soda and bringing my lunch from home instead of buying fast food. Being frugal with my spending has really helped me get a lot more money that I would have if I was wasting money on unnecessary expenses.
My mom was also determined to help me achieve my goal. Since we were limited on time, we knew that every penny counted. She opened a certificate of deposit for me and explained that the deposited money was a safe investment and would earn a higher interest rate. Having a CD was a great idea because it was guaranteed not to lose any money.
Saving for my car was hard to achieve but it was well worth it. Setting a goal and sticking to it has helped me to become more mature. I now realize that it is extremely important to save your money and set a budget so that you do not fall into a financial hole. Being thrifty is not easy, but anyone can be wise with money if they do not lose sight of their goals.