Many young people spend their money on luxury goods or expensive food. They seldom save their money for the future.
I highly encourage teenagers to develop the habit of saving because it benefits us greatly.
I have been saving since Primary Four. I have found that very helpful. I can buy my own books to enrich my knowledge. I can afford to join courses.
It's not that hard to save. If we have money, it is more likely that we will fulfil our needs and plans in the future.
Furthermore, saving can support us in the future, as life is unpredictable. We never know what will happen. For instance, we might not be able to find a job. Maybe there will be high inflation. There are lots of maybes.
We save to deal with these challenges and have a better life.
Yukiko Liu, Methodist College
From the Editor
Thank you for your letter, Yukiko. In a city where shops have sales all year round, and where eating out is very cheap, it is easy to spend money. And when you are young, it's easy to think your parents will always help you out with money if you need it.
But the reality is that everybody needs money for a rainy day. While saving may not make you a millionaire, having something set aside will come in handy in an emergency or for anything extra you need.
Saving money to spend on something that improves you - such as books, courses, or cultural events - is a good idea. While it's tempting to save to buy a new bag or pair of shoes, will that really make your life better?
Try to set a small amount of money aside every time you have some - whether it's from pocket money, a part-time job, birthday present or lai see. It will soon add up.
Why not read our Money column on Mondays for more ideas about how to look after your money?