Instructions
Welcome to your budgeting worksheet! Budgeting is an important skill that helps you manage your money effectively. Complete the following exercises to learn more about budgeting and make a plan for your finances.
1. Monthly Income
List all sources of your monthly income (e.g., allowance, part-time job, gifts). Add them up for your total income.
2. Monthly Expenses
Now, list your monthly expenses. Include categories such as food, entertainment, savings, and any other expenses you have.
3. Savings Goal
Set a monthly savings goal. How much do you want to save each month? What are you saving for?
4. Budget Summary
Calculate your remaining balance after expenses and savings. Use the following formula:
Remaining Balance = Total Income - Total Expenses - Savings Goal
5. Reflection
Reflect on your budgeting plan. What are the challenges you may face? How can you overcome them?