Budget Cycle: pick a budget duration (I think teens should use a one-week budget cycle to begin with), and put in the dates in the “Budget for the Week(s) of _” area.Your teen can use these budget sheets to fill in: You’re on Money Prodigy…so let’s start off with my very own teen budget worksheet! Also, here’s 3 sample budgets for 18-year-olds to help, and 11 teenage budgeting tips. Psst: you’ll also definitely want to check out 58 common teenager expenses, to get your teen started with how to fill out the expense part of their budget worksheet. It’s one of the best and easiest tools to help them learn how to manage and budget their money. Having said all this, I wanted to dive into some example teen budget worksheets to get your own teenager working on a budget. Not only that, but when you write down what you plan to spend, you’re much more successful at actually sticking to it. Some adults can get away with it because they’ve been at this for decades. It’s a critical part of teenage money management.Īnd what I like to call “mind budgeting”- trying to keep track of spending and when your next payday is in your head – is simply not going to work.įor starters, teens don’t have enough experience with budgeting to do mind budgeting. Except for my own, of course, because I made it precisely for teenagers! Best Teen Budget Worksheets SO, I’m choosing simple, colorful, and helpful free budget worksheets that will work well for teenagers (even if they were originally made for adults). Hint: there actually aren’t that many teen budget worksheets out there, for free. So, let’s get started with these budgeting worksheets for high school students. They’ll be able to see it clearly, with their own eyes, and you become less of the “bad guy”. Not only that, but if you have your teen sit down and write out a budget and spending plan, then the next time they are out of money or suffering through a money blunder – like anyone learning how to budget and manage money is going to experience – then you can calmly sit down with them and their budget worksheet and point out where their spending was a problem. Well, you can still ignore it…but it does become harder to do. When you see how much income you have coming in and how much spending and expenses you have going out, in black and white, you can no longer ignore the truth. To be honest? I’ve even experienced the “aha” moment myself. You should be able to stick to your budget and save money when you follow a system.I’ve seen it time and time again (it happens to kids and adults, too). This will give you time to decide if you need it or if you can live without it. If you see something you want, wait a day or two before buying it. When you use cash, you are more aware of how much money you are spending. Try to stick to cash as much as possible.This will help you see where you are overspending and make adjustments as necessary. Make sure that you track your spending weekly.Here are a few ways to help you do just that: Once you have created your budget, it is important to stick to it as closely as possible. Once you have all of your information in one place, you can begin to see where you spend most of your money. After you have entered your income, you will begin to list your expenses.īe sure to include everything, from your rent or mortgage payment to the cost of your daily coffee. This can be your salary, any freelance work that you may have done, or any other source of income. You will start by entering your income for the week. This can be done by looking at your bank statements, credit card bills, and any other records of your spending. First, you will need to gather your income and expense information for the week. With this planner, you will see where you are spending most of your money and where you can cut back to save. This can be helpful if you find it challenging to keep track of your spending monthly. So download the printable planner today and start creating a more financially secure future! What is a Weekly Budget Planner?Ī weekly budget planner is a printable document that you can use to track your income and expenses weekly. The printable weekly budget planner helps you track your income and expenses each week and figure out where you can make changes to save money.
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