5 Realistic Savings Goals Every Teen Should Set Before Graduation

Graduation is just a few days away. There’s excitement in the air—final papers, class group photos, and the feeling that a big chapter is closing. But as you prepare to say your goodbyes, it’s also a good time to start thinking about what’s next.


Whether you’re heading to university, learning a skill, or taking time to figure things out, one thing is certain: money will be part of the journey. And the sooner you start learning how to save and manage it, the more confident and independent you’ll feel.


You don’t need to be earning big to start saving. Even small, consistent habits now can give you a strong head start. In this post, we’ll walk you through 5 realistic savings goals every teen should try to reach before graduation day—or at least set in motion.

1. Save for a Gadget Upgrade


Imagine you’re preparing for the university or your first job after school, and your old laptop is like a desktop, or your phone is always hanging and slowing you down. Whether it’s a new laptop, phone, MiFi, or another essential gadget, having reliable tools can make life so much easier.


But instead of waiting for someone to buy it for you, why not save up for it? Here’s how:


Step 1: Set a Clear Goal


Start by deciding exactly what you want. Do some research and figure out the cost of the gadget you need. Once you know the price, set a savings target. Be realistic—don’t aim for the most expensive option if a more affordable one will do the job.


Step 2: Break It Down


A big number like ₦200,000 can feel overwhelming, but breaking it into smaller chunks makes it more manageable. For example:


  • If you want a laptop and have twelve months to save, divide ₦200,000 by six. That’s about ₦17,000 per month.
  • If you notice that you cannot achieve the goal in twelve months, you can always extend the time or change your goal to something that works within a year.

By setting smaller, regular savings targets, you’ll feel more confident about reaching your goal.


2. Start a Rainy-Day Fund


Life is full of surprises—some good, some not so much. Imagine your phone screen cracks, your school bag rips apart, or you suddenly need to buy materials for a class project. These unexpected expenses can be stressful, but having a rainy-day fund means you’re prepared. Here’s how to build yours:


Step 1: Set a Realistic Goal


Start with a small, achievable target. For example:


Aim for ₦50,000 in 6 months as your initial rainy-day fund.

This is enough to cover everyday emergencies like a cracked phone screen or replacing school supplies.

Step 2: Save Little by Little


You don’t have to save the entire amount at once. Here’s how you can do it step by step:


  • If you can save ₦2,000 each week, you’ll have ₦20,000 in just 10 weeks.
  • Got some birthday money? Add part of it to your fund.
  • Whenever you get extra cash—maybe from a holiday gift or chore payment—set aside a portion.


3. Save for a Tush Outfit for Special Occasions


Whether it’s graduation night or an uncle’s wedding, there’s always that one event where you want to look your absolute best. Having a stylish outfit ready for those special occasions can boost your confidence—and saving up for it yourself makes it even more rewarding. Here’s how you can do it:

Step 1: Plan Ahead


Think about any upcoming events where you’ll need a special outfit. Is graduation night a few months away? Or is there a family celebration on the horizon? Start planning early so you have enough time to save.


Step 2: Set a Budget


Research how much the outfit might cost. Don’t forget to include extras like shoes or accessories. Once you have a budget, decide how much you’ll need to save each week or month.


4. Save for University


Heading to university is a big step, and while your parents or guardians may cover most of the expenses, having some savings of your own can go a long way. Here’s how to begin:


Step 1: Identify Your University Needs


Start by listing what you might need money for. Some common expenses include:


  • Registration fees
  • Books and study materials
  • Transportation or hostel supplies
  • Personal upkeep

Having a clear picture of these costs will help you set a realistic goal.


Step 2: Set a Target Amount


You don’t have to save for everything, especially if your parents are covering the bulk of the costs. Instead, pick one or two areas to focus on. For example:


  • Save ₦50,000 for books or supplies.
  • Put aside ₦30,000 for transportation.

Break this target into smaller, manageable amounts. For instance, if you have eight months before school starts, saving ₦6,250 monthly will get you to ₦50,000.


5. Save for Skill Acquisition


Let’s face it — schools can’t teach you everything. To truly thrive after graduation, you’ll need to pick up key technical skills like coding, photography, graphic design, public speaking, and more. These skills can open doors to opportunities you never imagined. That’s why investing in learning a new skill is one of the best things you can do before graduation.


Here’s how to save for it:


Step 1: Choose a Skill You’re Passionate About


Think about something you’ve always wanted to learn or improve on. For example:


  • Coding or graphic design for tech enthusiasts.
  • Fashion design or sewing for creatives.
  • Cooking classes if you dream of becoming a chef or just want to cook better meals.

Research the cost of courses, materials, or equipment you’ll need. Online courses might be as low as ₦5,000, while in-person classes could cost ₦20,000 or more.


Step 2: Set a Savings Target


Once you know how much your chosen skill will cost, set a target. Break it into weekly or monthly savings goals. If the course costs ₦30,000 and you have three months to save, aim for ₦10,000 monthly or ₦2,500 weekly.


One Good Habit can Change Everything


Saving money as a teenager might not seem like a big deal now, but it’s one of the most important habits you can develop before stepping into adulthood.


Think of this process as practice for the bigger goals you’ll set in the future — saving for a car, a trip abroad, or even your first apartment. The habits you build now will give you the confidence to handle those challenges when the time comes.


So take the first step by setting a goal on the Earlybean app today. Your future self will thank you.

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