As Latinas, raised in a Latino household, we’re brought up with the concept of having the most wonderful Quinceañera party, since a very early age.
Whether you decide to have the party, travel the world, or simply own a nice piece of jewelry instead, it’s still smart to save the money.
Firstly, you never know what can happen from when you’re six to when you turn 14. You can always change your mind about anything. Plus, even if you decide not to have a Quince party, the extra money is going to come in handy for your Euro Trip or cruise you want to take instead.
If you don’t have a part-time job or any source of income, look for different opportunities to make some money.
You can do some extra chores in the house and ask for an allowance, or consider babysitting for your neighbors or walking the dogs. Even if it doesn’t seem like a lot of money at the time, it really adds up when you save it all up!
When should I start saving?
The earliest the better. Picture it this way: Even if you only save $20/ month from the age of 10 to 14, that adds up to $960. That’s almost a thousand dollars that you can put towards the cake or your dress!
How to save money?
Ask your parents if they can help you set up an account from theirs for all of your savings. Opening a savings account through their bank account can save you money by avoiding some fees and perhaps even gain a few cents in interest every month.
Doing it the old way!
You can also consider getting a small safe with a lock, and hide it in a secure place.
Turn it into a habit, and you’ll be forever grateful
Start saving money today, turn it into a habit, and you’ll be so thankful you did when you look back.