Your first budget: a lesson for ages 18 to 25
Budgeting means planning where money goes before you spend it. Covering needs first and setting fun money keeps you in control.
Practice this lesson Watch the video
The situation
You just moved into your first apartment with a small paycheck.
Friends invite you out every weekend.
What would you do?
- Make a budget for rent, food and fun money.
- Say yes to everything and hope it works out.
See the recommended choice and why
Recommended choice
Make a budget for rent, food and fun money.
Budgeting means planning where money goes before you spend it. Covering needs first and setting fun money keeps you in control.
Your next step
Write down your monthly needs and set a fun budget.
Words you can use
“I am on a budget this week. Want to cook instead?”
Sources
Lessons draw on guidance from these organizations. They link to it and do not reproduce it.
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