Usually at the end of each month, I reflect on my personal savings, but this month I want to brag about how my 16 year old son saved money this month.
He just turned 16, he has his first job, and he’s learning that he needs a little discipline when he has a paycheck in hand! Let’s look at a few of his money saving scenarios this month:
Money Saving Scenario #1
His ipod Touch was broken, so he had 3 choices…
- repair it for $150.
- buy a new one for $279
- buy a refurbished one for $179 with the same 1 year warranty as a new one!
This one was a no-brainer for him, and he ordered a refurbished ipod touch. Refurbished electronics with warranties are a great option for ipod, cell phones and more! You’ll be pleasantly surprised to find that they arrive packaged just like a new one in the original box! Save your money and give refurbished electronics a chance.
Money Saving Scenario #2
He was wandering around Barnes & Noble while he waited for me to pick him up. 15 minutes of time to kill resulted in him spending $50 on 4 golf books! I asked him if he really needed those books or could he check them out from the library or find them used? Moments later, he decided to return all the books! His comment, “I just need to stay out of places that sell stuff,” he said. It’s a very simplistic solution to saving money, but if you stay away from stores…you will save money!
Monday Saving Scenario #3
He loves to shop Goodwill, it’s his go-to shop for shorts! This month for $24 he bought: 1 pair of Tommy Hilfiger khakis, 1 pair of Polo khakis and 2 pair of Izod golf shorts. Add to that a $7.99 pair of used golf shoes that sell new for $400! He put them on ebay and sold them for $80 – he’s a bargain shopper in the making!
If you’re trying to save your money, why don’t you try my 16 year old son’s strategy and “stay out of places that sell stuff!”