What is a budget? We’re glad you asked! Lots of adults don’t know how to answer this question so the sooner you can figure it out, the better you’ll be able to take care of your money and the better you care for your money, the more power you’ll have to use it to accomplish your big dream!

A budget is like a recipe. Let’s say you want to make pancakes this weekend for breakfast. If you want them to turn out right, you need to know what ingredients go in them, in what amounts, and how to cook them. A budget is like a recipe for money, that helps you decide how much money to spend on the things that matter to you. Your spending plan, or budget might look like this:

Just like a pancake recipe calls for eggs, flour, oil and sugar, your budget will call for income and expenses. Your income is all the ways you get money. Your income sources could be “Gifts,” “Work” and “Allowance.” Make a label for each and put the amount you get for each category.

Expenses are what you want and / or need to spend your money on. Your expenses can be things you have to spend money on every day or week; things you want to buy for fun; and things you want to save up for, like this:

  • Lunch Money
  • Bus Fare
  • LEGOs
  • New Bike
  • Retirement

Make your budget as simple or detailed as you want. Boost it by opening a checking account or savings account with Four Points where you can always see how much money you have and it will be safe, waiting for you to use. The important thing is to start now and use your budget for the rest of your life. Your grown up self will thank you!

Are you ready to start a budget? Use this free budget from Four Points to get started now!

Youth Print and Complete budget (PDF)