Budgeting for Beginners: A Simple Guide for Kids
Learning how to budget might sound boring—but it’s actually one of the smartest things you can do with your money. And the best part? It’s easier than you think.
Whether you’re earning money from chores, a part-time job, or your own side hustle, budgeting helps you plan how to use it. Think of it like giving every dollar a job.
Here’s a simple way to get started:
1. Know how much you have.
Add up all the money you’re getting—allowance, birthday gifts, or money you earned. That’s your income.
2. Break it into 3 buckets:
- Save – Put aside money for something big, like a phone or college.
- Spend – Use some for things you enjoy now, like snacks or games.
- Give – If you can, donate a little to a cause you care about.
A good starting point? Try 50% for saving, 40% for spending, and 10% for giving. You can change it later based on your goals.
3. Track your money.
Use a notebook, app, or even a whiteboard to keep track of where your money goes. That way, you won’t be left wondering where it all disappeared!
Why it matters:
Budgeting teaches you how to take control of your money instead of letting it control you. It’s a skill that will help you for the rest of your life—and you’re never too young to start.
At Mason Makes Money Fund, we believe building smart money habits early leads to bigger success later. So grab a notebook and give budgeting a try!
