Spending vs. Saving

Author: 
FranklinM

According to Statisticbrain.com, American teenagers annually pay up $208.7 billion dollars. Also, according to Money-management.com, 75% of teenagers are spending more money than the amount they earned. This is one way teenagers are not making wise choices. This is also a way that the majority of American teenagers use their money in a weak way. Teenagers should stop spending money, and start saving money.

Teenagers should be required to have their discounts and collect coupons to save money. According to a study by Money-management.com, 50% of teenagers report they are making less purchases. Also, it says that only 55% are buying items that are going on sale. Teenagers can spend money, but it would be best for them to be required to use discounts and coupons when making their own purchases.

  Teenagers can open a savings account to save their money. For example, they can put 50% of their earnings into their savings and not use it until they’re eighteen. A source at Money-management.com says that 28% of teenagers say they are spending less money, and saving more. Also, 40% of teens report they are already saving their money. If teenagers want to buy something really expensive, they should keep a savings account, and learn how to save to make the purchase.

  Some people may argue that teenagers shouldn’t be required to save their money. They argue that teenagers don’t understand the concept of saving money. Also, people argue that when teenagers buy products that are expensive, and they get robbed, or if the product breaks, or if they lose the product, that will be a waste of money. This argument is wrong because teenagers can take responsibilities to make less purchases and save more money. Also, saving money can keep teenagers from being stressed. My mom always tells me to save the money until I need it, or else I have a loss opportunity for buying whatever I need, or want.

 The only solution for teenagers is to start saving their earnings. If you are a teenager, whether having a job or not, and you spend the amount you earn, either every day or week, you can fix it by signing up for a savings account at a nearby bank. Also, keep track of products that are going on sale. Saving money helps teenagers make wise purchases. Even if you get a salary at a part-time job, you can save it to purchase something special. Most importantly, you can save the salary for a car, or college. If you don’t have a job, save the money you earned for those. Keep that up, and your risk of losing your money will be impossible.

 

Comments

Your most persuasive piece

Your most persuasive piece of evidence is the statistics and it also placed in good places which makes it more persuasive to the readers. GREAT JOB!