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Lesson 7 · Written for kid, teen, and little

Making a Budget

A budget is a plan you make for your money before you spend it.

The idea

A budget is just a plan for your money that you write down before you spend it. You split the money you get into jobs: money for things you need, money for things you want, and money you save or invest for later. One common starting template is 50/30/20 — about 50% to needs, 30% to wants, and 20% to saving and investing. The exact numbers can shift, but the habit of deciding first and spending second is what makes it work 🥧

A

Words to know

5

Budget

A plan that says where your money will go before you spend it. Like deciding "$10 for snacks, $5 to save" before you leave the house.

Income

The money that comes in to you, like allowance, gifts, or pay from a job.

50/30/20

A simple split: about 50% for needs, 30% for wants, and 20% for saving and investing. On $100 that is $50, $30 and $20.

Saving

Keeping money instead of spending it, so it is there when you need it later. Like putting $3 of your $10 away every week.

Giving

Money you choose to hand to someone else or to a cause you care about. Like $5 to an animal shelter.

Try it — no accountSort into groups

Every budget has two sides: money coming in and money going out.

Sort each one.

0 / 6 sorted

In the full lesson

  1. 1Sort into groups
  2. 2Work out the number
  3. 3Make the call

Vine has 107 lessons like this one, each written three ways so a 7-year-old and a 17-year-old both get a version that fits.

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