Saving money when you're young age is an important lesson. All good lessons and habits begin early, and saving is a skill that everyone needs. Many people - adults included - do not have a good sense of saving for the long run. Besides being a great way to ensure you have enough money for your old age, saving money when you are young can only help your future.

I have been lucky to learn this lesson early because I have had a lawn business since I was ten years old. Of the money I make, I spend approximately ten percent and save the other ninety.

Making sure you don't spend too much and continuing to save is a good way to accumulate wealth. I have put my earnings in a bank, and with investments and regular interest rates, have almost doubled my savings. Your money will double after twelve years at a modest rate of six percent interest. Many teens I know spend all the money they earn so it never has a chance to grow.

Teens should realize that now is a prime time to begin saving. In high school many parents pay for almost everything, so expenses can be small. If you have a job, you should have fun with some of the money. But you should also save some so that it will grow for you without your working, and begin planning for your future. When you spend money, you not only lose that money, but also the interest you could have accumulated by saving it.

After high school, college is expensive and then "real" life begins, with expenses such as food and rent. If you can hold onto a good portion of the money you earn as a teen, going to college and buying a house will be much easier. The earlier you begin saving, the more time the money has to grow.

If you are in your thirties without any savings, you will always have to play catch up. If you can just save $100 a month for five years at a ten percent interest rate, that money will be worth $7,750 in five years. After 25 years continuing to save $100 each month, your savings will be worth $132,000. These statistics show that the earlier you begin saving the easier it is to create a nest egg.

Later in life it can be hard to start saving because life is more expensive and you may only have enough to pay your bills. If you want to buy a house and have a family, you need capital, which comes from savings.

Many say money cannot make you happy (which is true), but money can help you lead a stable life.

Saving early will mean you will have to work fewer years when you are older and allow you to spend time doing things you want. You also want to be financially secure so you can live the way you want without worrying. Also, you will be able to retire at a reasonable age.

Think: if you have two million dollars capital when you retire, that money growing at a modest five percent annual interest rate will produce an income of $100,000 a year without you working an hour. That is without even mentioning the possibilities of wise investing in the stock market or mutual funds, where sometimes you can increase your capital by a hundred percent!