It’s not only children or teens, but adults also need to have some pocket money. This is especially important when wanting to make purchases in establishments that do not accept cards or checks. Having enough money in your pocket or wallet is essential, but care must also be taken so that you do not spend it all at once, or spend it on things that you do not really need. Here are the ways on how to get pocket money… and keep it.
Find jobs or businesses that pay in cash
When wanting to earn pocket money, you can withdraw money from your ATM account, or you can find jobs where paying in cash is the norm. This can range from selling cookies for a dollar apiece, or moonlighting as a plumber, mechanic, or babysitter.
It would be much more inconvenient to pay in check especially when the bill is just for a couple of dollars, and you can fatten your pocket with this newfound income without having to go to the bank.
Allocate a budget
Just as you do with grocery expenses, make it a point to only have a fixed amount within your wallet on a daily or weekly basis. Try your best not to exceed your budget, and try to put whatever is left at the end of the week into your savings account.
Don’t spend on anything that you don’t need
Having money ready with you can be really tempting. Try not to be tempted with making quick purchases that you might regret later. If you are put in a situation where you are tempted to make a purchase, walk around for a bit, and if the desire to buy the item is still there, then it is probably something that you really want.
Keep different denominations with you
When you have pocket money, don’t just have it in hundreds of fifties. Try to break your money down into smaller bills, and even coins, when necessary. This will ensure that you are able to complete transactions quickly and efficiently, and you would not be tempted to make larger purchases in order to get rid of having to keep a lot of change with you.
Keeping cold hard cash with you is very convenient, but always remember that this is still money, money that you have earned and money that you must spend wisely. Keep pocket money with you at all times, but make sure that it is a power that you will not abuse or misuse.