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How To Save Money As A Teenager—With Or Without A Job

  • As a teenager, saving money is important to establish good financial habits and skills.
  • Even if you have a part-time job or an allowance, there are ways to save money.
  • If you have regular income, you can decide on a certain percentage to save or set a goal to save a fixed amount of money each month.
  • Multiple savings goals or buckets can be created for saving money for different purchases.
  • Teens who don't have a regular income can save money by putting a portion of cash gifts or allowances in savings.
  • Earning money from doing chores is another way to save for a teenager.
  • Managing a checking account can help teenagers make better choices with their money.
  • Using money-saving apps can help teenagers set savings goals, save automatically, and get rewards.
  • Ally Bank is a recommended bank for saving and categorizing savings in buckets for various goals.
  • Teenagers should set aggressive saving goals and save a large percentage of their income to establish good habits.

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