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Budget Money

Money makes the world go-round. With money, we buy food, clothes, pay rent, and all of our needs. We all learn to start managing or saving our money. Budgeting is an important life skill that will help you make the best of each dollar. Whether it's an allowance, weekly paycheck, or holiday cash gifts, as you grow up there is more money and each dollar should serve a purpose. 

Everyone's budget is different, so there are few steps to make a smart budget that you can follow. The website, teenfinancialfreedom.com, has a list of ten tips for teens learning how to budget. While this list is geared towards teens, the tips can be useful for just about anyone looking to budget their money in the best way possible. Tips like creating spending categories, opening a savings account, tracking where your money goes, and other great advice to helping save your money.

Another resource is "JumpStart's Reality Check," a quiz for youth and young adults to learn how to plan their future as consumers. If you'd like to find out the best budget for your lifestyle, then this is for you. The quiz uses the answers given to figure out the best income, based entirely on how and where you live. The questions range from "How many people do you live with" to "Do you own a car?" It's short, useful, easy, and most importantly, accurate. The entire quiz takes maybe 3-5 minutes and is great for anyone looking to manage their money a bit better.

How well do you budget your cash? Are there any budgeting tips you'd like to share? Let us know in the comment section below. For 13-26-year-olds,  join the weekly SPAN youth chats by clicking the link under Resources. Invite a friend, or share the blog so they can subscribe!

Author,

Jeremy Hayer

Resources:

  1. The SPAN Youth Chat: the-span-youth-chat

  2. 10 Tips On Budgeting For Teens in 2021: https://teenfinancialfreedom.com/10-tips-on-budgeting-for-teens/

  3. Jump$tart’s Reality Check Quiz: https://www.jumpstart.org/what-we-do/support-financial-education/reality-check

  4. Youth-Focused Videos: https://youtube.com/playlist?list=PLGXju3IK5UOWXGDV1Fzfrc2DJuDDqOKTu

  5. Subscribe to SPAN's YouTube channel: https://www.youtube.com/user/SPANAdvocacy

  6. Link to SPAN's website: https://spanadvocacy.org/

  7. Link to SPAN’s Youth In the Know Resource Page: Youth in the Know

  8. We’re here for you!  Call SPAN if you need assistance: 1-800-654-7726

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