How to Save Money as a Teenager Without a Job

young woman with brown hair and brown shirt showing the cash money she saved in her hand


How to Save Money as a Teenager Without a Job


You ever sit there and wonder why you don’t have any money? Or why you can’t account for the monetary gifts you’ve been getting every Christmas or birthday? It most likely means one thing, you haven’t been saving.

Whether you’re a teenager or an adult one thing is sure, you can only save money if your income is higher than your expenses. The problem is, you don’t have a job and you’re asking yourself how to save money as a teenager without a job.


After all, you can’t save money if it’s not coming in. As a teenager, your income stream is limited but if you play your cards right, you should be able to figure out some streams of income.


Here are some tips to help you navigate your way around being broke.

How to Save Up Money Fast Without a Job


  1. Appeal for an Allowance or a Higher Allowance

Don’t expect your parents to give you money for nothing. Do more chores around the house or negotiate an allowance for improving your grades. They will be less inclined to say no to you if you show responsibility. If you don’t yet receive an allowance, ask for one.

  1. Learn a Unique Skill

You can learn several high-income skills to provide a service to friends, family, and your neighbourhood. These high-income skills include computer programming, website development, graphics designing, freelance copywriting, computer repair, and many more.

  1. Sell Valuable Belongings You No Longer Need

You may have valuable things that you have outgrown. It could be toys, books, artwork, etc. You can sell these things on Craigslist, Marketplace or even organize a yard sale to generate income.

  1. Start a Side Hustle

You may not be ready for a regular job, but a hustle may suit you perfectly. These jobs include babysitting, tutoring, washing your neighbor’s cars for money, etc.

  1. Profit from Birthdays and Holidays

Your birthday is the perfect time to get gifts from your friends and family. If you can influence the type of gift you want, you can appeal for monetary donations by telling them that you are saving towards a goal.

  1. Invest in a Profitable Venture

The best way to guarantee an increase in cash is to invest in a profitable venture. You may ask for your parents’ help to make the best investment decisions.


Knowing how to invest from a young age would help you gain the required financial expertise for future purposes. This is not easy, but when done right can be very nice.

Spend Less than You Earn as a Teen


While increasing your income puts you in a great position to save money, you also need to cut out the excess spending with money management. In your start to financial freedom, here are some of the ways to spend less than you earn:

  1. Don’t Spend on What You Can’t Afford

This should be a given. You need to avoid buying things that you can’t afford. You also want to avoid eating out at fancy restaurants and buying expensive gadgets. Don’t use loans to buy things that aren’t a necessity.

  1. Prioritize Your Needs over Wants

If you have to spend on everything that catches your eye, then you won’t have a lot of money to spare. Buying drinks every day is unnecessary and unhealthy. Spend on the necessary but affordable things like food, water, transport fare, etc.

  1. Keep Track of Your Expenses

When you don’t keep track of your expenses, you often find yourself spending money with reckless abandon. Keeping track of your expenses helps you cut out unnecessary expenses.

  1. Make Use of Coupons Rather than Cash

You should be on the lookout for discounts, coupons, food stamps, and gift cards. These are ways that you can purchase some of your favorite things while saving a lot of money. Websites and web extensions such as Honey can save you money online.

Where to Store your Money


If you have finally saved up some cash, you’ll need somewhere strategic to store it. Keep the money somewhere you can’t easily access it to avoid spending impulsively. Here are some ideas to hide it away.

  1. Open a Savings Account at the Bank

If you’re below the age of 18, most banks will require a legal guardian to open a bank account for you. There are options like junior or youth accounts.


You could also open a safety deposit box at the bank but this costs money. A bank is a great option, as long as your money is safe and out of your hands.

  1. Keep the Money with your Parents or Guardian

Agree with your parents not to release the funds to you unless it is for a good reason. This takes discipline.

  1. Store Securely in a Safe/Piggybank

This will cost you money to buy but consider it an investment in your savings.

It’s Not Easy but it Can be Done

You may think it’s impossible for a teenager to save money without a job, and it’s not easy, but it can be done. If you think smart and be strategic, you will be able to build up some income, cut costs, and save money that will serve you well in the future.



Don’t let your current situation deter you. Follow these steps on how to save money as a teenager without a job and you’ll be able to save for a bright future.


By: Robert Puharich | April 10, 2022 |