What Would You Give Up For a New Bike?

20. June 2011

Each month we ask students to share their stories about saving money as part of the Young America Saves program. To learn more about the program or to enroll visit http://www.americasaves.org/youth/

By Gregg Kelly III, Illinois HS Student

When I was 11, I thought that my parents were going to buy me my first bike. I was all happy, I felt that I was “gonna ride with the big boys,” meaning my older brothers. I had been asking and asking if they were going to buy me a bike and they said, “We’ll see.” They kept saying that, so eventually I realized that they weren’t going to buy it. I was mad, but I decided to earn the money myself.

At the time, I thought a bike would cost about $50.00. Then my Mom gave me a Toys ‘R Us flyer and I saw how much it really cost. $115! For a bicycle! I asked my Mom if there was anything I could do to earn enough money for the bike. She told me I already earned money completing chores around the house and that I should use that money to save for a bike. Luckily, she made a deal with me that when I earned half of the money for the cost of the bike, she would pay the rest. This made me kind of happy, although I was disappointed in myself because I realized that each week I spent all my chore money on gum, candy, and ice cream.

Because I really wanted the bike, I had to spend less money on snacks and put this money toward the bike. I kept doing this for three months, and I eventually reached my halfway mark. My mother then bought the bike.

I learned that some things you want require sacrifice. I had to give up food and snacks in order to get the bike that I wanted.

Then I rode with my brothers.

TRY IT FOR YOURSELF!

How much do you think you spend on food – candy, gum, soda, etc.? Tell us on our Facebook page

Take the Pledge

I pledge to save money, reduce debt, and build wealth over time. I will encourage my family and friends to do the same

Take the America Saves Pledge

Tip of the Day

  • Written by Administrator2 | January 12, 2014

    Keep track of your spending. At least once a month, use credit card, checking, and other records to review what you've purchased. Then, ask yourself if it makes sense to reallocate some of this spending to an emergency savings account. http://ow.ly/sj972

Saver Stories View all »

The Gift of Homeownership

Written by Tammy G. Bruzon | August 5, 2015

Quaneka Willis, a single mother of three children, was receiving rental assistance through the Housing Authority of the City of Milwaukee when she decided to take control of her finances. So, in September of 2013 she attended the Make Your Money Talk program and pledged as a Wisconsin Saver. In less than 12 months, she had maximized her savings and was beginning the process of purchasing her first home.

Read more...

Inspired to Build Savings By Starting Small

Written by Great Lakes Michigan Saves | April 19, 2016

With little-to-no money in the bank and living on a limited income with her adult daughter, Sharon wasn’t sure if building up savings for her future was even possible. “At my age, to put debts behind me would be a relief,” she said, but she wasn’t quite sure how to even get started with a savings plan. That all changed when Sharon attended the Great Lakes Michigan Saves Pay Yourself First Saver’s Summit during America Saves Week.

Read more...

Developing a Savings "Game Plan"

Written by Katie Bryan | October 28, 2013

Eunice Diaz, a teacher in Colorado Springs, had been noticing a pattern. Despite the fact that she and her husband were “making good money,” they were spending their entire earnings and “were still struggling at the end of the month.”

Read more...

Receive Updates

Sign up for Texts

Written by Tammy G. Bruzon | July 15, 2014

Sign Up

Sign up for Emails

Written by Super User | September 16, 2013

Get Emails

Take the Pledge

Written by Super User | September 16, 2013

Start Saving