Alex’s budget

AlexI keep a monthly budget. To get started, all I needed to know was how much money I earn or receive — that’s called income — and how much I spend — which are called expenses. The goal of a budget is to spend no more than you earn — and even to save some money, if you can.

So every weekend I do chores, babysit my younger brother, and run errands for my parents. Usually I earn $20 per weekend. That means every four weeks, I can budget only $80 — and I can’t spend more than that.

Besides my regular expenses, I also make sure to budget for the computer I’m saving for.

Here’s a page from my 4-week budget.

Alex’s 4-week budget

Description Income (+) Expenses (-) $ Available
Earnings — babysitting and running errands $80.00 $80.00
College fund $15.00 $65.00
Snack money $20.00 $45.00
Savings for a computer $15.00 $30.00
Entertainment / clothes $20.00 $10.00

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