Managing Your Money
Why it is Important to Start Young
Setting Up Your Budget
Use the forms on the following two pages to create your personal budget.
After you've completed these forms, try to stick to your budget for one month. At the end of the month, write down your actual income and your actual expenses.
Calculate the difference between what you thought you would earn and what you actually earned, and what you thought you would spend and what you actually spent.
| Income Worksheet | |||
| Income | Budgeted | Actual | Difference |
| Your Wages | $ | $ | $ |
| Allowance | $ | $ | $ |
| Other Income | $ | $ | $ |
| Grand Total of Expenses | Budgeted | Actual | Difference |
| $ | $ | $ | $ |
| Mandatory Expenses | |||
| Expenses | Budgeted | Actual | Difference |
| Rent/Mortgage Payment | $ | $ | $ |
| Car Payment | $ | $ | $ |
| Car Insurance | $ | $ | $ |
| Bus Fare | $ | $ | $ |
| Credit Card | $ | $ | $ |
| Other | $ | $ | $ |
| Total | $ | $ | $ |
