MAGAZINE: Magazines and POSTER

HEALTHY MONEY HABIT

So you’ve landed your first job(yeah girl!) and you’ve mentally spent your first month's pay on a new ’drobe. Other than looking as on point as Gigi, you know what else you could do with your
dollars? Penny Collicoat of Edge Financial Planning (edgefinanicalplanning.com.au) has these ideas.

PUT IT AWAY
If you save just $20 a week, by the end of the year you could have more than $1,000. For reals. Deposit this money in a separate online savings account so you can earn extra money through a higher interest rate, plus score bonuses if you don’t make a withdrawal. Not only are you now getting a pay check,
you’ll also be getting more cash for doing nothing but saving.

MAKE MORE
There will be times when you need a bit of extra cash(like when a BFF’s b’day comes up). In these moments, ask your ’rents if there are any jobs you can do around the house, and then track the chores on an app likeAllowance and Chore Bot – Free (from the App Store).Some other ideas are to organize a carwash in your street, or put out flyers in your area for babysitting or dog sitting gigs. You’ll be surprised how many spare hours you can fill making serious moolah!

CREATE A SQUAD BUDGET
As you earn more money, get in the habit of budgeting. You can do this by divvying up your total pay each week for different categories like going to dinner with mates, clothes, movies and concerts and, most importantly, savings! Oh, and you’ll have to make sure you don’t go over what you said you’d spend. As with all things we’re epic at, it takes a time to build up good habits and
know what to do. It’s a great idea to communicate your goals with your parents so they can help you stick to it. Plus, you can ask them for advice on different methods. They’ll def have a few ideas!

STICK TO PREPAID
Thinking of upgrading your
phone now that you can pay for it yourself? Most companies will sign you on a contract that runs for two years. If you can’t pay for some reason and you want to cancel your phone, you’re still responsible for the total amount of the two years, which can be majorly exy. Start out with a prepaid phone so that you know how much you’re spending and can’t run up a large debt. Cos paying for something you aren’t even using is so not cool.

Source: Dolly Magazine. February 2016 Issue //dolly.com.au