Tips to help teens save money

By Adam Hooper - email

LAKE CHARLES, LA (KPLC) - With the tough economic times of today, many are cutting back. But, a group that most times goes unnoticed as far as spending, are teens. This is true even though they make up a large part of the spending economy.  Gwen Himel, of Cameron State Bank, says it is important for teens to be careful while spending their money.

"You really need to shop wisely and choose," says Himel.

Gwen says it is crucial for teens to lear, early on how to be a good manager of money.

"You do need to have a budget, and you need to follow that budget. If at the end of the month you have money remaining, then you should still save some, but that is the time to go out and splurge," says Himel.

Even then it is wise to be a smart shopper. Gwen says some things to remember when shopping is not to spend more money than you make. More expensive items should be saved for but if you have to have it now and decide to charge it, you should have a plan to pay it off.

I met up with Brittany Pousson while she was shopping at Target. I was able to talk with her about her own spending habits.

"I try to save but when I need a new outfit I get it," says Pousson.

"At my dad's we all see who can buy more and save more. It is a competition," says Pousson.

Brittany let me follow her around as she rifled through the racks, looking for the best deals. She found what she wanted and kept on browsing. Before we were done we had to see how her clothes looked on her. After a quick stop to the dressing room it was time to check out.  At the end of our trip Brittany had chosen two things she liked.

Another tip for teens is to shop around online for the best deals.