What to Spend On as A Teenager
Spending money is a lot easier than earning it, we all know that. What we often confuse is how we should spend our money to get the most out of it. Whether it’s a part-time job or a business that earns you money, you have to work for it and shouldn’t give it away without thought.
Using your money to purchase things that bring you joy is normal. However, having the right priorities is essential to avoid wasting money. The first step to do so is to differentiate between wants and needs, then gauge your earnings, and utilize your money to get things that will benefit you in the long run.
We’ve asked questions and put some thought into how teens spend money, and how they could maximize the use of it. Below is a list of things to consider before you spend your valuable money.
Cool Things To Spend Money On
These may be things you want and don’t necessarily need. Keep in mind it’s great to buy things we want, we just need to prioritize our needs and wants.
There are many unique and classy sneaker designs you can buy today. Some of the coolest brands you can consider purchasing include Nike, Yeezys, Bottega Veneta, Adidas, Converse, New Balance, Reebok, Puma, and more.
● Gaming console
If you’re a gaming enthusiast, then a gaming console can be a great purchase. Depending on your favorite games and budget, you can get one type or more.
● Stereo system
You can take your music to the next level by buying an advanced stereo system or speaker. A stereo system can also come in handy when recording or reproducing music, which you can do with your friends and family.
EarPods can come in handy when you want to listen to music on the go, such as while chilling or doing other activities like exercising, running, and home chores.
● Prom expenses
Proms are among the best days of teenage life and you can make them even more memorable and exciting by buying yourself the prom accessories you need.
● Gift for friends/family
You can show your companions and family how deeply you care for them through gifts. The gifts’ value may vary with the receiver’s age, your relationship with them, or the amount of money you have. You don’t have to buy fancy gifts, after all, it is the thought that counts.
Traveling exposes you to the outside world and allows you to experience new things. You can go to the nearest towns, visit other countries, neighboring states, and other places you’ve wished to go. You’ll learn a lot when you travel, I recommend you do it before you have too many responsibilities.
Fun Things To Spend Money On
● Concert and movie tickets
Going to concerts and movie theatres will help you connect with friends and allow you to see your favorite artists and films. Part of being young is doing these things, don’t be afraid to try them.
● Day out with friends
Going out with friends is among the most fun ways to spend your money. You can go hiking, gaming, watching, or chill out at home, order out, and catch up. Sometimes it feels good to order in or buy that food you know you shouldn’t eat.
● Music or singing lessons
Using your money to pay for singing classes or music lessons is an excellent way to use your money, especially if you love music or singing. You’ll be a pro in what you love doing which is fulfilling and satisfying in so many ways.
● School trips
School trips are educative and allow you to spend more time with your friends/classmates. Always keep some money aside so that you can go when these trips come. Sports and music trips are always a great time, don’t hesitate to go because of the cost.
● Bubble Tea
If you love trying different types of tea, then bubble tea should be on your bucket list. It can be hot or cold and prepared using milk, fruit juices, fruits, and signature bubbles (yummy tapioca pearls placed at the cup’s bottom)
Responsible Things To Spend Money On
A laptop is an essential device you can use to do so many things, like watching, writing, doing school homework or projects, starting an online business, and other fun things you like.
● A cell phone
Buying a good cell phone will help you easily communicate with your friends and family and navigate social media apps without hassle. You don’t need the newest phones as they’re not the best financial choices, but having a phone is a good thing.
You never have too many clothes as a teenager. Having the ability to buy some for yourself gives you the freedom to purchase clothing that matches your style and preference.
● Gym expenses
Working out regularly will keep you fit and healthy. Paying for a gym membership allows you to exercise regularly using appropriate equipment without worrying about getting your workout in.
● Health/Hygiene supplies
Good health and hygiene are essential. Don’t forget to buy your deodorant and hair products. Supplements are questionable, make sure to talk to your doctor first.
● Car expenses
Having a car comes with inevitable responsibilities like gas, insurance, maintenance, and even electricity. Taking care of these for yourself shows how responsible and reliable you are.
● College application fees
College application fees aren’t usually high as tuition fees but they still need to be paid. Don’t get stressed about college before you even get it. An application fee is worth it.
● Used car
Used cars are an ideal option for teenagers instead of new cars. Used cars allow for a wider selection and usually come with lower price tags and insurance costs. Don’t lose money in depreciation if you don’t need to.
● Dorm or apartment furniture and appliances
Buying furniture for your new apartment and dorm is essential for easy studying and living. Some of the things to purchase include chairs, tables, bedding, décor, and other appliances. The best place to live, an often unpopular decision, is to stay home as long as possible. One day you’ll appreciate the savings.
Lame Things To Spend Money On
● Emotional and impulse purchases
It’s a bad idea to spend your money based on your emotions. Such purchases include things you buy to feel meaningful, complete, or proud. Don’t buy things just to buy them!
● A new car
New cars are loveable and stunning, but they aren’t the right choice for teenagers. They’re expensive and require high insurance costs.
While single-use items seem convenient, they are usually costlier in the long run. For instance, buying one bottle of water daily is more expensive than using a reusable water bottle.
● Regular Restaurant/fast food meals
Dining out with friends is fun, but you should avoid doing so regularly. Cooking your food at home more often will help you save a lot of money, especially if you already have the required ingredients.
● Using money to impress others
Spending your money to impress other people is the worst thing you can do. We could give many examples but you probably have your own.
● In-game purchases
Most games have in-game purchases to allow players to progress faster. Although this feature makes the game more exciting and easier, it’s a cause of money waste among teens. It’s advisable to avoid such purchases at all costs as they only offer a short period of enjoyment.
Gambling is addictive and an easy way to waste money and get into financial problems. You should avoid any form of gambling, regardless of how fun or rewarding it may seem.
● Newly-released devices
Buying newly-released electronic gadgets probably isn’t the best way to spend your money. Most of them tend to have specs similar to the previous models and may not be as improved as manufacturers claim. It’s advisable to consider lightly used devices, take care of your electronics well, and replace them only when necessary.
Be In Control Of Your Money
Learning to use your money responsibly and wisely allows you to have better control and utility of finances, even when you become an adult. It’s advisable first to research what matters or what’s more valuable to you, then you can make purchases starting with the most essential. Your money is hard to earn, to let it out so easily.
By: Robert Puharich | December 10, 2023 |