Nowadays you have access to more money than ever before, thanks to allowances, gifts and for many, income from artistic presentation of your talents. Having more money makes you more responsible for managing money and making decisions for everything from small everyday purchases to bigger-ticket items (such as a bike or a camera) to saving for your higher education. What I am telling now is about managing your pocket money in a Smart Way by understanding money.
Knowing in advance the true cost and value of lifestyle and purchasing decisions can allow you to have financial and personal freedom. The key for you is to handle (and not too often mishandle) money in ways that are right for you. Understand the value of money and then use your money wisely.
There is no one right answer for everyone. The choice is yours. Just make sure you're aware of the consequences before you satisfy your wants.
If you're spending your time wisely, you'll be a resourceful person by having more time to do what is really important to you.
Meeting short-term as compared to long-term goals is a constant battle when it comes to money. Very often, it's a question of satisfying many short-term goals (e.g., to get the latest CDs or DVDs) or putting all or most of them on hold to save up for a more expensive goal (e.g., ipod, video games or higher education expenses). You can develop your skills in saving and investing to meet your long-term goals. See the big picture to get the willpower to work towards your long-term goals. "Little drops of water make the mighty ocean" an English proverb you might have heard from your seniors. If one goes by this saying, small but periodic investments can grow to a large sum at maturity. This is the basic investment logic behind the Youngster Moneyplant schemes.