Congratulations Money Maker!
You’ve made some money from a super cool job you started. Now what? Do you spend it all on one thing you’ve been dying to purchase? Should you save some of your “paycheck”? The answers to these questions can be found in a budget.
What’s a Budget?
A budget is a way for you to organize how you spend your money. It’s probably not smart to spend every dollar you make, and it might not be fun having to save all of it either. Below is a budget that’ll help keep your money balanced. There are three categories for you to place your money into. My parents and I came to an agreeable percentage for each. Talk with your dad or mom about what percent you feel comfortable using for your categories.
Category 1: Give/Charity (10%)
Category 1 is the giving category. It’s always a great idea to include a portion of your money to give back. Personally, my giving goes to my church as tithe. Maybe you would like to give to your local animal shelter or goodwill or your church, too?
Category 2: Save (30%)
Category 2 is the saving category. While it may seem fun at the time to spend all your money, it’s a good rule of thumb to be sure and save for a larger goal. This could be your first car or the beginning of college savings.
Category 3: Spend (60%)
Category 3 is the spending category. This is your fun money for anything! Shopping, new pet treats, yummy treats for yourself. The list is endless!
You can head over to my Printables page to get your own Budget Worksheet!
Girl Knows Money 