Learn How to Budget
Have you ever wanted a new CD or video game that your parents wouldn’t buy? Someday you might even want to buy your own car! Well if you learn now how to budget your money, you can have enough money for all the things you want to buy and do. Kids can learn now how to budget and save for something special in the future. You can teach kids to budget by using our free Learn How to Budget worksheet.
Follow these easy steps:
- Write down all your weekly income - Think about all the ways you earn money and how much you make in a week. Put those numbers in our Learn How to Budget worksheet.
- Write down all your weekly expenses - Think about everything that you buy, all the places you go and where your money goes during a week. Think carefully about what you need and what you want. There is a difference! Buying lunch is a need. Buying gum or candy is a want. Keep track of how much you spend on what you need and on what you want. Limit how much money you spend on what you want.
- Save money for short-term goals- Saving money is just as important as spending money. If you can save money for things you want in the next month (short-term) you can also learn to save for things you want to buy that are bigger (long-term). Short term goals are things like CD’s or video games.
- Save money for long-term goals- Everyone needs to learn to save for long-term goals. Remember that car we talked about? That’s a long-term savings goal.
- Save money for charity - It’s a good idea to learn to give to others. Saving for charity is a great way to have your money work for someone else!
- Finally, write this all down - Use our free Learn How to Budget worksheet to keep track every week of what you earn and what you spend. Then, watch your money grow!
If you can learn to stick to your budget, you can save money for all the things you want that your parents won’t buy for you!
Click here to get our free Learn How to Budget worksheet.
