As a high school student, you’re probably starting to earn your own money. And you’re finding out there is so much to spend it on: a car, gas, movies, clothes, electronics, music, plus saving for college.
Creating a budget can help you get a handle on your money, and help ensure you have money for the things that are important to you.
Start with a spending diary
Before you start making a budget, take a couple weeks to see where your money is going. Keep track of everything you spend, whether you’re putting a couple bucks in the school vending machine, buying a new shirt, or going to a movie.
Once you have handle on how you’re spending your money, build a budget like the one below where you map out how much you’re earning and track your expenses.
Be sure to build in some savings like the person did below, taking a few dollars out for college savings or a more expensive item you’re saving for.
Put your money where it matters
If you aren’t pleased with the way your budget looks, brainstorm some ways to make a change. Watch for sales when buying clothes, plan to eat at home or bring a snack with you instead of grabbing fast food after practice, you get the idea.