Maintaining Your Savings

703 Words 3 Pages
Maintaining your savings is very important. When I was 12, I had to go on a school-sanctioned activity to Guam, and my parents gave me $100, which I considered a high accomplishment in my life. My parents told me not to spend everything while I went on that trip. With a $100 bill in my hand and no limits to what I could absolutely purchase, I felt a sense of freedom, but with freedom, came responsibility. I left that trip with a $100 and came back with at least $60 in my hand. That’s when I started to put my leftover money in a money jar and began accumulating savings. Everyone has their own method of saving money, like depositing small amounts of their money into their saving accounts or setting spending limits for themselves. My method incorporates both methods, with simple steps that anyone could follow. By recording what you buy, setting a monthly budget for yourself, determining what to save your money on, and setting priorities, you’ll be able to see yourself earn savings. The first step to …show more content…
I used to be that kind person, but now I’m always self-conscious of everything I spend my money on. I’d rather walk myself to school than having to pay a $3 taxi fare to bring me there. Every time money goes in and out of your account, record every transaction of it. Figure how much you earn and spend in a month and set a limit on how much you can spend every month. Set a goal to save up for something you always wanted (or always needed). Always prioritize the important expenses that you need to pay off first before you start spending away on your own wants. Saving money is important, but it doesn’t have to be complicated. Anyone could start saving if they make plans for it. Following these simple steps will help keep you on track to reaching your savings goals, no matter if you’re planning to save big or save

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