# How to Make a Budgeting Worksheet for Teens

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A budgeting worksheet for teens fulfills the same purpose and requires the same investment as a budgeting worksheet for adults: Given your teens' willingness to use the worksheet as the helpful tool that you intend it to be, the worksheet can show them how to manage their money by keeping track of spending habits. Taken seriously and used consistently, such a worksheet can teach teens lessons about budgeting their money and establish a foundation for long-term financial responsibility.

### Things You'll Need

• Computer
• Graphics program
• Paper
• Pen
• Home printer

Have your teens make the letters I, F, and D on their budgeting worksheet. These letters may be drawn as large bubble letters or made on a computer using a graphics-type paint or draw program.

Make the I, F and D large enough to accommodate writing inside the body of the letters. At the bottom of the worksheet, have the teens write the budgeting formula I - F = D. Then have them write a blank space (\$____) under each letter.

Have your teens fill in the letter I on their budget sheets with all their sources of income using a weekly or monthly budget period.

Instruct the teens to fill in the letter F on their sheets with any fixed expenses they must pay during that budget period.

Tell your teens to fill in the letter D with discretionary spending, such as personal needs, entertainment, leisure activities or future savings and bigger purchases.

Have your teens total the amounts in I and F and write them in the blanks under each letter of the budgeting formula at the bottom of their worksheets.

Tell the teens to subtract the amount under blank F (Fixed Expenses) from blank I (Income) to get a balance and write it under letter D (Discretionary) on their budget sheets.

## Tips & Warnings

• Make sure to make the letters large enough to write in budgeting items and amounts.
• Make headings over the letters to remind the teens what to write inside the letters.
• Have the teens set a savings goal first and put that money aside first after they have figured their discretionary amount left.

## References

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