Ride Well Worth It

By Tyrie Williams, On the Money Magazine Chicago

piggyandcarMost teenagers are not patient when spending money; however, having the right kind of discipline and a good budget can help you reach your financial goal! Putting away a little money ahead of time and researching the item you want may help you decide if what you what is really worth it. Researching brands and different vendors and shopping online are good ways to compare prices.

I went through this experience when I wanted a new mini bike motorcycle. I like to go fast so I wanted the fastest, coolest looking mini bike. The Baja Heat motorcycle was the one for me. I already owned a Baja Doodle Bug so I sold it for $125.00. The only problem was that at the time, in stores, the Baja Heat cost $700.00. I would still have to save about $575.00 which was a lot.

To earn this money, I wouldn't go outside for weeks. Instead, I spent my weekends doing chores and odd jobs for family members making 10 to 20 dollars for each job. It took a while to build my savings and I didn’t start seeing my money really add up until after my first month.

 

There were a lot of times I was tempted to spend my money. Those shoes in the window look really good when you have the money to buy them. It was like, as I was saving more money, the more things came up for me to spend it on.

The retailers I had in mind to purchase the mini bike from would have charged me about $700.00 with tax and assembly. I had not looked at any other retailers because they were the only two local stores that I knew of that sold mini bikes. Then one day we went out as a family to get a break from working and stopped at Dick’s Sporting Goods, we walked through the store and came upon the outdoor recreational aisle and saw the Baja Heat on sale for $300.00 as a closeout item. I was so happy. Not only would I get the mini bike a little early, but I would have an extra $400.00 to start a bank account for the next well worth it ride … a car.

For more resources on debt and saving check out these other resources:

Positive Peer Pressure and the Envelopes in the Cupboard: Adolescents Now Prioritizing Saving

5 Signs You Are In Financial Trouble

Dig Yourself Out of Debt Action Plan

New Theme: Paying Off High-Cost Debt

Get out of Debt

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Tip of the Day

  • Written by Administrator2 | January 13, 2014

    Never purchase expensive items on impulse. Think over each expensive purchase for at least 24 hours. Acting on this principle will mean you have far fewer regrets about impulse purchases, and far more money for emergency savings. http://ow.ly/sj972

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