📊 What is a Budget?
A budget is like a plan for your money! It helps you decide how much money you'll spend on different things. Think of it like planning what to pack for a trip - you want to make sure you have everything you need!
- •A budget shows how much money you have (income)
- •It lists what you plan to spend money on (expenses)
- •The goal is to not spend more than you have!
✏️ Making Your First Budget
Start simple! Write down how much money you get each week (allowance, birthday money, etc.). Then list what you want to spend it on. Try the 50-30-20 rule: Save 50%, Spend 30%, Share 20%!
- •Track your money for one week to see where it goes
- •Set goals: How much do you want to save?
- •Review your budget weekly and adjust if needed