{"type":"document","data":{"id":"d700f7c1-6764-4b83-81bb-89edf198b9e6","localeString":"en-GB","publishDate":"2025-12-11T13:48:19.171+01:00","contentType":"onecms:editorialPage","hasMacro":false,"flexPageMetadata":{"afmBanner":false,"robotInstruction":{"noIndex":false,"noFollow":false},"description":"Want to learn how to budget? Need to save up for a trip or for your studies? These budgeting money saving tips will show you how."},"mainHeaderZone":{"componentType":"editorialHeader","coreHeader":{"title":"How to budget pocket money and save for the future","subtitle":"Managing your pocket money wisely as a teenager is a big step toward a secure financial future. Learning how to save money now will help you build good habits that last a lifetime. By learning about how to budget, you can cover your expenses and start saving for bigger goals.","body":"These money saving tips, will you most of what you have and set yourself up for financial success."},"backLink":{"textLink":{"url":"/en/individuals/daily-banking","text":"Accounts and cards"}},"date":"2024-07-25","readingTime":5},"flexZone":{"flexComponents":[{"componentType":"sectionTitle","title":"Step 1 - Learning about money"},{"componentType":"paragraph","richBody":{"value":"<p>Money is tempting, especially when you discover the joys of pocket money. First of all, make sure you know how money works.</p>"}},{"componentType":"paragraph","title":"Talk about money with your parents","richBody":{"value":"<p>Take every opportunity in everyday life to talk about money with your parents or other close friends. In this way you will understand how and why you need to put a budget in place or why you should save your money for example. Doing this will help you gradually learn the value of things. That&apos;s the basis of money management.</p>"}},{"componentType":"paragraph","title":"Do the family shopping","richBody":{"value":"<p>Take part in the household shopping, it&apos;s a good way to get some real-life practice. For example, you will learn how to:</p><ul><li>compare prices between brands and/or shops;</li><li>decipher special offers; and</li><li>understand the impact of advertising and marketing on purchasing behaviour.</li></ul>"}},{"componentType":"paragraph","title":"Get informed about money","richBody":{"value":"<p>Here are three ways to learn more about money and finance without getting bored!</p><p><strong>1. A website designed for young people</strong></p><p>There are websites offering articles and practical advice especially designed for young people and with the answers to any questions you may have. For example, some platforms give advice on how to save and talk about the risks associated with the messages from certain bloggers who boast about easy money. So do your research on the internet, make sure the sources are reliable and become a money genius!</p><p><strong>2. An online game</strong></p><p>With The Money Talk<span>,</span> take up challenges and discover some very concrete themes: earning money, differentiating between needs and wants, saving, spending sensibly and understanding the concept of borrowing. Play with your family!</p><p><strong>3. Films about money and finance</strong></p><p>We&apos;ve compiled a list of 5 films about money and finance: comedy and musical classics and some less well-known titles that take a different approach to money. Discover finance before the Bitcoin era!</p>"}},{"componentType":"sectionTitle","title":"Step 2: How to manage your pocket money"},{"componentType":"paragraph","richBody":{"value":"<p>Now that you know more about how money works, you have everything you need to manage your pocket money well.</p>"}},{"componentType":"paragraph","title":"What does it mean to manage your money well?","richBody":{"value":"<p>Management is a word we have all heard, but it’s a concept that is not always very clear. As for &quot;doing something well&quot;, this can also vary depending on the subject.</p><p>To &quot;manage your money well&quot;, you&apos;ll need to check off the following 5 criteria:</p><ul><li><strong>Spend intelligently</strong>: intelligent spending is spending that brings you satisfaction, not regret.<br />Example: you buy something you need or have wanted for a long time and that really gives you pleasure versus you buy an expensive gadget on a whim and never use it.</li><li><strong>Think ahead:</strong> By planning the expenses you already know about, you can work out your budget in advance, so there are no nasty surprises.<br />Examples: your best friend&apos;s birthday, a film coming out soon, a bowling night you&apos;ve been planning for a long time...</li><li><strong>Take your time</strong>: impulse purchases are dangerous because there is a high risk of buyer’s regret. Whether it&apos;s a pair of exclusive trainers or a concert you really want to go to take the time to decide whether you&apos;ll really enjoy spending this money over the long term.</li><li><strong>Compare</strong>: the price of the same item can vary enormously from one retailer to another, whether online or in the shop. It&apos;s also always a good idea to see whether the thing you want is available on a second-hand platform.</li><li><strong>Keep a cool head </strong>: try not to let yourself be influenced by your friends, advertising, social networks... Stay true to your ideas and desires, as far as possible. It&apos;s sometimes easier said than done, but it&apos;s definitely worth it.</li></ul>"}},{"componentType":"paragraph","title":"Use your pocket money wisely","richBody":{"value":"<p>Now you know what good management is all about. In practical terms, here&apos;s how to make the most of your pocket money:</p><ul><li>Remember what your pocket money should be used for and stick to it.</li><li>Try to spread your spending over time rather than spending all your pocket money as soon as you get it.</li><li>Accept mistakes. That&apos;s how you learn!</li><li>Ask your parents or someone you trust if you have any doubts.</li><li>Make sure you always know how much money you really have, in cash and/or in your current account.</li><li>If you can carry out online transactions through your bank account, such as generating a QR code or paying back a friend with Wero, make sure you know how to use these tools first.</li></ul>"}},{"componentType":"sectionTitle","title":"Step 3: Building up savings"},{"componentType":"paragraph","richBody":{"value":"<p>Maybe your head is full of great ideas or maybe you just don&apos;t feel like spending, whichever it is, you can put some money aside.</p><p>How do you go about saving money? There are several ways to boost your savings:</p><ul><li>Ask for gifts of money: on your birthday and on other occasions (e.g.: Christmas, graduation), you can ask your friends and family to help you with your project. It&apos;s up to you to prepare a great pitch to win them over!</li><li>Put some of your pocket money aside.</li><li>Get a student job from age 16 on.</li><li>Offer to do some extra services for your parents (this is possible even if you&apos;re under 16): we&apos;re not talking here about the usual chores around the house, but really an extra helping hand. Talk to your parents about what you could do!</li></ul><p>You can keep your savings in cash. You can also put your money into a savings account. If you have a youth account in your own name, you can, with your parents&apos; agreement if you are under 18, manage your own savings account. As well as being secure, a savings account earns interest: the money you deposit earns you money.</p><p>Here you have all the information you need to manage your money wisely and achieve your goals!</p>"}}]}}}