Where To Find Money

Before we can even start to invest money we need to come up with some to invest. This is not as hard as it seems. Here are some easy ways to start gathering money to invest.

Keeping in mind that this blog is for teenagers the ideas presented are intended for teenagers although adults may learn something new too.

The first thing to do is get yourself a piggy bank. You can make it out of paper mache (I'll explain how to do this in my next blog) or purchase a new one it doesn't matter the important thing is that you have one. Make sure your new piggy bank is the type that you have to break to open - this will prevent you from 'borrowing' from your savings.

Save your change. Whenever you make a purchase at a store pay with paper money. Take the coins you receive back and put them in your piggy bank. Do this for everything you buy and do it every time you make a purchase, you will soon have money to invest.

Save 50% of any money you make. While you're living at home you have few expenses if any at all. Most of the money you earn through a part time job, allowance or gifts you probably spend on frivolous stuff (things you don't really need.) So before you head to the store, pull half that money out and put in into your piggy bank.

Sacrifice. Relax this should be almost painless. Do you have a habit that is costing you money? Do you buy a pop and chocolate bar or chips regularly? Maybe have lunch at the cafeteria everyday? Smoke? Take the amount of money that your habit costs you in one day and put it in your piggy bank then skip your habit for that day. This is good in two ways, you are weaning yourself from a potentially expensive habit and you are saving money.

Do you need it? Ask yourself this before you buy and you could save yourself a bundle. Cell phones are a huge money grab. Ask yourself if you really need one? Do you need all the bells and whistles? If you answered yes that's fine. Now ask yourself if you are on the most economical calling plan? There are lots of different plans out there and sometimes deciding on the right one takes time. First decide how you are going to use the phone - emergencies only, test and talk to friends, keep in touch with parents, etc. Next, figure out roughly how many minutes you will use the phone. Then review the different plans and find the most economical.

Cell phones are just one example. You could the same question about a vehicle or fashion. If you don't spend the money then it's available to save.

Parents. You're living at home right? If there is something you want (like a cell phone) and you can justify the need for one, then come up with a convincing argument and present your case to your parents. They may just buy it for you. It's worth a shot.

These are just a few ways you can scrape up some extra money without really doing anything at all. You simply have to combine a positive attitude with the desire to save some money and you'll be well on your way.