Skip to content
LimeSqueeze
Start a challengeAll challengesNo-spend week52-week savingsSee all: ChallengesAll areasFood and groceriesShopping and stuffSee all: SqueezesCost per useHours of workUnit priceSee all: CalculatorsAll guidesFrugal vs cheapSinking fundsSee all: Guides

How teens can save money

By LimeSqueeze editors · Updated · About LimeSqueeze

Learning to save as a teenager builds a habit that pays off for life. Start small and make it automatic.

Set a goal

Something you really want: a phone, a trip, a first car or just a safety net.

Save a set share of everything

Whether it is pocket money, birthday money or pay from a job, put a fixed share, such as a quarter, into savings straight away.

Open a savings account

Ask a parent or guardian to help you open an account. Seeing it grow helps.

Watch out for

  • In-app purchases and subscriptions.
  • Buying things to keep up with friends.
  • "Buy now, pay later" offers.

Try a challenge

The 30-day rule and a no-spend week work well for teens too.

Tips from travellers

Tried How teens can save money? Share what helped. The first good one goes right here.

Share a tip

We read every tip before it goes live. No links, please, and nothing personal about other people.

More money-saving ideas

How to save for a houseHow to save for a house: set your down payment target, add closing costs, automate savings, choose …How to save for a vacationHow to save for a trip: price it first, set a travel fund, cut costs in the run-up and save on flig…How to save for a weddingHow to save for a wedding: agree a budget, open a joint wedding fund, prioritize what matters, and …How to save for ChristmasHow to save for Christmas and the holidays: work out your total, divide by the weeks left, set up a…