Why are you saving?

Why are you saving?

There comes a point in every kid’s life when he or she becomes responsible for paying for their wants or needs.

 

Senior Madison Ramsey has a big transition coming up when she graduates and a money saving plan is necessary for her success. 

 

“I’m saving my money for college. I plan to get scholarships and pay for it as much as I can, I really don’t want to take out loans because they can make the future really difficult. I just want to take care of it as early as I can,” Ramsey said.

 

A statistical plan is oftentimes best to keep kids accountable and on track with their savings.

 

“I save 30 percent of my paychecks and spend 70 percent. My mom and I talked it out and came up with this plan that we thought would work best and set me up well for the future,” Ramsey said. 

 

A lot of students get jobs to earn money for things that they want. Oftentimes, parents aid their children by splitting the cost with their kids. 

 

“I get money by working for McDonalds. I’m saving up for a ‘79 Lincoln Continental. I keep some money for spending, and I don’t choose how much I keep, I just choose what feels right. My parents will help pay for the car,” sophomore Gabe Folco said. 

 

Some students will have help paying for things from their parents and have a more relaxed system on saving their money. Nonetheless a system for saving money is helps create teenage financial responsibility.

 

“I try to save most of my money, but every so often I use it for spending. If I really want something and it is a reasonable price, then I decide to buy it. Most of the responsibility will be on me for paying for college. i just have to work hard to earn money for it,” junior Sophie Markowitz said.