How to Make a Budgeting Worksheet for Teens

A budgeting worksheet can show teens how to track spending and save money. This worksheet can teach responsibility to teens as well as good budgeting practices.

Difficulty: Easy

Instructions

Things You'll Need:

• Computer
• graphics program
• paper
• pen
• home printer

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

2. Make the letters large enough to write or type in. 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.

3. Have your teens fill in the letter I on their budget sheet with all their sources of income using a weekly, or monthly budgeting period on their worksheet.

4. Next have the teens Fill in the letter F on their sheet with any fixed expenses they must pay during that budgeting period.

5. Then tell your teens to fill in the letter D with any other discretionary spending needs they want to put in. These can be personal needs, entertainment, leisure activities, or future savings and bigger purchases.

6. Lastly, have your teens total the amounts in letter I and F and write them in the blanks under each letter of the budgeting formula at the bottom of their worksheet.

7. Have the teens 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 sheet.

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.

Resources

• Budgeting worksheets
• Budget Software