Okay, being a teenager implies that you do not have much cash. And this is something that we should accept. We need to save money on the emergency fund. It does not matter whether you have an office job.
Imagine yourself in the situation when the screen of your phone cracks as a result of falling into the floor from your pocket. It requires much money. If you do not have an emergency fund, you turn to your parents for help, which is awkward and nobody likes it. 📉
First of all, I would like to inform you that there is no need for you to have several thousands of dollars right now. You are not going to buy a house. What you need is an amount of cash that will be able to help you to cope with an unexpected event. Let’s start with one hundred dollars. It is not a huge amount, but it is quite realistic.
The easiest way to earn money is to become a mercenary of your community. For instance, you may mow the grass of the neighbor, who did not do it for a long time. You may wash a car of some guy who needs this on Saturday morning. You will immediately receive money for this work. It is better than getting a paycheck in two weeks after working at McDonalds.
You should not spend money on any digital products that you do not need. It is not an asset. 🎮 It is useless when you are running out of fuel in your car. Each time when you want to buy a new game, you need to put aside the same amount of cash.
You can open a high yield savings account at such banks as Marcus or Ally. You should not keep your cash at home in the jar because it will be spent on pizza as soon as you have it at hand.
It is a great option to use the selling of used products. Find old sneakers that you do not need anymore in your wardrobe and offer to sell them on Depop or Mercari. There are people who want your used goods and even pay for the shipping. 🤑
If you have a checking account, you can automate this process. All you need is to make an automatic weekly transfer of five dollars. It is such a tiny amount that you will not feel its absence.
This fund allows you to get rid of what you do not like. It helps you to solve your problems in the most convenient way.