My Advice on Saving, Spending & Investing Wisely

Hey girls,

If there’s one thing I wish I had started earlier, it’s learning how to manage my money. I know — it’s not as exciting as a new outfit or the latest phone, but trust me, financial confidence feels amazing. Whether you’re saving for your first big purchase, planning college expenses, or just trying to stop blowing your allowance in a week (been there), these tips will help you start building smart money habits now.

 Step 1: Start With a Plan

When I first started earning my own money — birthday gifts, babysitting, part-time jobs — I thought I could just “wing it.” Big mistake. A plan makes all the difference.

• Know your “why.” Saving for a laptop? Future tuition? Naming your goal makes it real.

• Budget your income. Write down what’s coming in and what’s going out.

• Separate wants vs. needs. Trust me, this skill is a game-changer. Needs are essentials like food or school supplies. Wants are fun extras cute shoes, boba runs that you can enjoy once essentials are covered.

The more honest you are with yourself here, the easier it is to stay on track.

 Step 2: Save Smart

A savings account isn’t just for adults. It’s a safe place for your money, and it earns you a little interest over time. The earlier you start, the more your savings grow.

• Set up automatic deposits from allowance or birthday money. Even $5 a week adds up.

• If college is on your radar, start putting aside money now. Scholarships and grants can help later, but building your own fund gives you options.

Savings accounts are also federally insured, so your money’s safe even if your bank has trouble.

 Step 3: Understand Investing

Here’s the secret no one tells you in school: saving and investing are not the same thing.

• Saving is low-risk and slow growth.

• Investing means putting money into stocks, bonds, or mutual funds. It can grow faster, but it can also go up and down in value.

The longer your money stays invested, the more you can take advantage of growth over time. If you’re curious, check out Investor.gov — it’s a great beginner-friendly resource.

 Step 4: Know Where Your Money Lives

Banks and credit unions both keep your money safe, but they’re a little different:

• Banks = for-profit, owned by shareholders.

• Credit unions = not-for-profit, owned by members (you).

Both insure deposits up to $250,000, so you’re protected either way.

 Final Thought: Learn by Doing

The best way to get good with money is to practice. Open that savings account. Track your spending. Try saving for something big. The earlier you start, the more confident and independent you’ll feel.

Money doesn’t have to be intimidating. Think of it like a skill you’re building. Just like learning to drive, code, or play a sport, the more you practice, the better you get.

So go ahead, start small, dream big…