How to Manage Middle School Children's Finances – The junior high school period is a period of growth towards the adult stage. At this time, children begin to learn many things. Quoted from Kompas.com, adolescence is an important period for them to learn to manage finances. This is necessary so that they are accustomed to saving and are good at managing finances for a better future.
Managing finances is not an easy thing, especially for junior high school students. There are many things that you want to buy so that you don't go out of style and your friends avoid you, but you don't have enough pocket money. Therefore, it is important for teenagers, especially junior high school students, to start caring about their finances.
Then, how to manage the finances of junior high school children? Let's see the tips!
Also Read: How much is college students' pocket money?
6 Ways to Manage Middle School Children's Finances
Here are some tips on how to manage the finances of middle school children.
Making Financial Records
The main thing in managing finances is to take notes. Making financial records does seem simple, but it will really help us to see our financial income and expenses every month.
As a junior high school student, you can start by recording the money you get from pocket money or money given to you by your parents. Don't forget to record every expense you make. These notes can be used as evaluation material to see what expenses can be reduced and what items can be added.
If you have difficulty recording your finances, you can use the Whiz financial application. which has an automatic logging feature, see more information here.
Trying to live frugally
Learning to live frugally will help you manage your finances. The thing you can do to save the pocket money given is to reduce snacks outside the home.
You can start by getting used to eating at home or bringing lunch to school. This will be very useful for reducing your expenses.
Not Easily Influenced by Influencers
As teenagers, we definitely want to try new things or keep up with emerging trends. Teenagers today are also very influenced by the lives of influencers. In fact, if we look at some of them have a hedonic lifestyle that should not be followed by teenagers.
We must be smart in choosing role models who should provide positive values for our lives, one of which is in the financial sector.
Don't overspend
The desire to spend is often a problem when managing finances. Especially during the promo season or massive discounts. This can backfire on your finances.
You can use this time to buy the things you need, but you also have to avoid overspending for the sake of your financial health.
Saving Early
Starting to save early has many benefits, FYI! By saving you can prepare for things in the future. You can start saving by setting aside your pocket money. It doesn't have to be a large amount at once, as long as it's routine and disciplined.
You can also use the Whiz financial app to save and record your finances.
Start Investing
If you have money left over, you can start investing. An important investment is made to prepare for your future needs.
Before investing, it would be nice if you learn first so you don't go wrong in your steps. You also have to be careful when investing and understand how to invest properly.
Having the expertise to manage finances is very important, especially for those of you who are still in school. With good finances, you can plan your future well.
Also Read: Tips to Prevent Impulsive Buying in 30 Days
If you have difficulty managing your finances, you can use the Whiz Finance Application. With this application, you can save, see your monthly expenses, send and receive money, and many other interesting features.
USE THE WHIZ FINANCIAL APPLICATION AND MANAGE YOUR FINANCES!
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