We get it. No matter how much pocket money you get, it’s never enough. In fact, compared to that 1 super-rich boy or girl, in your class, it’s nothing at all. It becomes hard to understand why your parents cannot spare more for their child. But, worry not. We’re here to tell you some lesser-known facts about making the most of your pocket money so that you never run out too soon! Here we go.
Points to manage your pocket money:
- Manage your expectations: The first and foremost thing to make yourself understand is that your pocket money allocation is all you’re going to get at the start of the month. Not more, and indeed, not less, though the latter may depends upon your behaviour. It is better to stand in front of the mirror at the start of each month, look at the balance in your account, and give yourself a big pep talk that ‘Dude, this is it’. No matter what you do, how you do, that amount of money in your bank account will not increase on its own magically.
Once you’ve talked yourself into it, let us come to point #2.
- Schedule and prioritise: It’s a tough task, We know. Schedule? Prioritise?! These words might seem unfamiliar to you, but spending 5 little minutes on these seemingly never-ending tasks can save you a lot of your pocket money. I know the temptation of spending money on a impulse, but the trick here is that the “Whim Balance” can become one of the things in your planned route. This balance will help you gauge how much you can spend on moments when the hunger bug is too much to bear or when there’s that one thing in the clothing store that you want.
- Grab those deals like a kid grabbing at balloons in the air.: Did those words create an image in your head? Good! The same energy is required here. We are in an age where brands and companies are going against the grain to make sure that they create a healthy base of customers. As such, they have all shifted to an ad-based standard and are offering deals and stimuli like crazy! Pick any brand, and there are deals to suit every need you might have. So, it’s extremely important to get your hands on an app that will offer you these deals in all your favourite places and make sure to cash them in every time you visit these places.
Fyp offers upto 30% off on top brands across food, fashion, clothing, gaming, etc. So if you want to make the most of deals and offers, make Fyp your new best friend.
Caution: You need to be careful about not falling into a trap. Shop only when necessary and not because you saw a great price or great deal. There will always be amazing deals somewhere or the other.
- Convince your parents to give you a weekly or bi-monthly allowance: This has dual benefits! Not only will you be able to appropriately fund your entire month, knowing exactly how much you can spend in a given week, but even your parents will also be happy to see that their child has finally come to sense! Moreover, you can even persuade them to cough up a little more in certain weeks when you feel especially unrestrained.
- Use Fyp, India’s teen exclusive Neo bank which provides debit card for teen as well as great cash-back and offers. It helps teen save money too.
So, there you have it; the lesser-known facts to utilise your pocket money to its full potential! These are all the points you need to consider. Telling you that you should only spend on the more important things or that you should eat out less is irrelevant. Everything is important! Every experience is necessary! Follow these tips and tricks, and that pocket money will start looking that much bigger!