Budgeting basics

Jul 20, 2010 - Age Corespondent

If you find it difficult saving money and you always have to borrow or ask your parents to get you something you’ve wanted to own for a long time, here is some guidance on how to put money aside for that special purchase.
First, you must have somewhere to keep your money apart from a wallet. Money saved should go into a piggy bank or a box with a lock or kept with your parents.
When you get your pocket money or allowance, see how long you can stretch it. Plan ahead, be resourceful and keep an eye out for good deals. Write everything down in a diary especially reserved for this purpose and watch your allowance go that extra mile.
Once you know how much you can save in a week you can actually start putting away money for a rainy day or for that special something you want to buy.
Dip into your savings only when you feel you MUST make a purchase. Finally keep impulse purchases out of the way. Never carry too much money on you. If you carry too much the desire to spend could overcome you!

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