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Have Common “Cents”. Make A Budget.

Have your eye on that awesome video watch? Or a new game? You could beg your parent or grandparent for it, but that may not work. Or, you could set up a budget and buy it on your own.

What Is A Budget?

A budget is a plan. It helps you figure out where money is coming from, and where it is going. The first thing you’ll need to start tracking your budget is a notebook. For a couple of weeks, every time you buy something, write it down in one column. Also, write down money you get from an allowance, gifts or doing extra chores in another column. In a third column, write down things you want to buy and how much they cost. Now add up the columns. How much do you need to buy things on your wish list? Did you have any extra money you could save in your credit union savings account? How long will it take you to save for the things on your list? Did you buy stuff you really didn’t need or want? Think about how you are spending your money. Think about ways to make more. Think about how to save some. Then make a plan. That will be your budget and a way to get what you want.

Creating a budget may seem like a scary task at first, but once you get into the swing of it, it will be a breeze. Learning how to keep track of your money now will help you to be financially responsible as an adult. You’ll be surprised by how much you can save by simply creating a budget and following it. Once you get the hang of budgeting, you’ll be able to teach all of your friends this new skill. That new game, watch, or bike may be closer than you thought!


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