Saving Too Much!

I have been a culprit of saving too much money! I am the biggest advocate for teens saving money, but there needs to be a healthy balance! 

In the past, I have had $1000 and saved $750 of it, knowing that $250 was probably not going to suffice my living expenses, I still put most of the money in my Savings Account. Pretty soon, that $250 vanished, and I had to start pulling money from my savings, just to maintain! Pretty soon, $750 became $500, and then $300... Here are some tips to make sure you aren't saving too much money:

1. Stability: If you have a job that pays every two weeks, and by the beginning of the first week, you have $3.00 in your savings account, and $300 in your savings, something is wrong! If you don't have a dire need to have an exuberant amount of money in your savings, don't save too much! Have enough money in your checking account, to make it through the entire pay period!

2. No Goals: If you don't have a goal you are working towards, or a purchase that's very expensive coming up, don't save too much money. If you save $5-$15 every week, your money will accumulate faster, and you will be able to enjoy your money!

Saving Money is great, it's when you start saving too much, that will get you in trouble!

Rickey