Saving money for traveling

Wednesday, 20 July 2016

Considering i am only 16 years old, I think its fair to say I do not know a lot about where money goes once you get it. Whether its into a mortgage, rent, shopping or food. Since I was 12 I have been working. From the ages of 12-13 i was a paper boy. I would get £10 a week and would work weekday morning's for around 30 minutes. Although i was not paying anything out, with this little wage I had manage to save £300 in a year.
which although it is not a lot considering the little amount i was working with i thought it was good.
A couple of months before i turned 15 i got a job at a children's play center where i started on £3  an hour, which although it was better then my previous "job" it was a very small amount. In the two years of me working there i had two big holiday coming up where i needed to save for them. these where New York and Las Vegas. Whilst i was on £3 an hour i had managed to save £1000 within 5 months and this was all because of the first method of money saving i used which is one of the easiest but does have some flaws.

Opening a saving account in your bank is one of the easiest things to do. Once you have opened it you can transfer money in between your accounts. With a saving account you are not able to take out money unless you either go inside a bank and take the money out or transfer it to your normal bank and either pay for something on card or take it out of an ATM. Although it is very easy to take money out of your savings it helps you  be more strict with what you are buying to make sure that you have enough money in your bank other wise you will need to transfer money and if you are out of your house and cant use online banking you will be in a little bit of trouble.

Creating a plan is easy all you need to know is how much money you make and what you weekly or monthly outcome is. How ever much money you have spare set your self a target of putting so much of it away and not touching it. As the months go bye your savings will slowly start rising even if you put £10 away a week. With this also any extra money you get whether it is from family, overtime or even left overs from the previous month, you can put straight in to you savings account, helping you gain more money which is spare to help plan and start you traveling adventures.

Money tins are my favorite way to save money. This is because of many reasons. One is because its a surprise. Whilst saving you can not look inside and see how much you have in there so when you finally open it you will always be surprised with how much money you have saved over time. Another reason is because you can just take bits of money out when you need it because it is sealed and the only way is breaking it open (obviously you can open it but have some self will people) which we are not going to do. Okay! Having a money tin is a very simple way of saving and the best part about it is you are not meant to put big not in there like £20's and £50's, you put small notes and even coins in there. I got a saving tin when around December of 2015 and each week i have been putting £5 in it and also if i get some money of family or if i have any lose change it all goes in there.

There is going to be a time when we all have to move out of  our parent house, however, who says it has to be soon. Living wiht your parents is one of the best ways to save money. Although you may have to pay them rent, it will not be anywhere near the amount of living in a house on you own. When you live at your parents house you get free food, TV, Netflix all for a small amount of money a month. When you live at your parent house you can save your money on traveling and not have to worry about being kicked out if you are a couple of days late with you rent because well they are your parents, so take advantage of that (not them)

Saving money is a lot easier then you think so make a plan of how your going to save your money, and make sure that you spend it on what you want not what other people have.

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Stay Motivated and Safe Travels

-Jamie Maycock

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