How to Make Your Allowance Last Longer

Learn how to manage your allowance so you can set aside some money for special goals, like college funds or a computer.

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Just because you're not old enough to earn a paycheck doesn't mean you can't make some fast cash.

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Steps

Step 1

Set goals

Set goals for the short-term and the long-term. A short-term goal may be something less expensive, while a long-term goal may cost more.
Step 2

Save

Figure out how much of your allowance you want to save and how much you want to spend. Put aside a percentage for your long-term goals.
Take two envelopes. Write "spend" on one and "save" on the other and use them for motivation.
Step 3

Ask for small bills

Ask for small bills so you can easily separate what you want to save from what you intend to spend.
Step 4

Keep a journal

Make a list of everything you buy. If you are not saving as much as you’d like, refer to your journal for clues as to why.
Step 5

Think big

Avoid buying a lot of small things, which add up surprisingly quickly and will eat up your allowance before you know it.
Step 6

Avoid peer pressure

Don’t worry about what your friends are doing with their allowances. Stick to your goals.
As of 2006, it cost the U.S. Government about 1.23 cents to print a penny.