Now that your teen is working on their first budget (or attempting budgeting for the second time), they might need an idea of what example expenses teenagers have.Īfter all, filling in expenses is a huge part of budgeting, and of filling in a budget worksheet for young adults! Your teen can use the budget calculator, put in the prom date and get a prom countdown (that sounds fun for a teenager!) and much more.Īvailable On: iOS and Google Play Example Expenses for Teenagers One way to help with that is Visa's app, Plan'it Prom. You can either use it to teach the how to budget for an occasion, OR, you can use it to teach them how to budget in general. Prom is a perfect opportunity for your teen to learn how to budget. Psst: once you figure out how to budget as a teenager? Pair it with these free money envelopes for kids so that they can track their spending throughout the week.Īvailable On: iOS and Google Play Teen Budget App #3: Plan It Prom Very important step in the process, especially if you want them to get better and better at this budgeting thing! Money calendar: on page two of this free printable, you'll find a blank money calendar where your teen can do some planning ahead as far as paychecks/earnings/allowances, bill due dates, occasions where they'll need to spend money, etc.Īt the end of the budgeting cycle (one week, two weeks, etc.), have them come back to the sheet and fill out the “actual” columns - what they actually spent and what they actually earned, and then subtract from the planned amounts to get the leak or leftover from their initial budget plan.It's a money habit that makes a big difference! Notice how there's a row for “actual money put into savings?” I want your teen to get into the habit of what I call “banking it”, meaning actually moving money out of their checking account to their savings at the end of a budget cycle so that the money doesn't “accidentally” get spent.
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