How would you rate your financial literacy?
That’s great, but what are you going to do with this extra money? That’s where making a budget will come in handy.
What is a budget?
A budget is a plan for what to do with your money.
It will ensure you’re setting enough aside to pay for the things you need and the things you want, as well as saving some for the future and perhaps having some to share.
Budgeting Tips for Teens and Students
Start by setting a budget you can stick to. If you have a regular income and expenses to pay, that can be quite simple. But if your income changes week to week, then you need to save more to cover those times when your earnings drop.
It’s always a good idea to have some savings in any case, because things don’t always go to plan, and you may need some money for an emergency.
Sparkie
You could look at saving some extra money by making a couple of changes to your spending. Make your lunch in the morning instead of buying it, and cutting back on takeaway coffees and taxis.
Budget Planning Tools
There are tools on our website that can help you set up a budget and ensure you’re putting aside some money where you can. Once you start saving, you’ll notice that your money grows quickly, which can help to motivate you to save even more!
Use our Budget Calculator
We’ve laid out some easy steps for you to follow below, but if you’re ready to get hands on, take advantage of our online Budget Calculator and start your annual budget.
Many savings accounts pay bonus interest if you make regular deposits and no withdrawals.
