Making a Budget
A budget is a plan you make for your money before you spend it.
The idea
A budget is just a plan for your money that you write down before you spend it. You split the money you get into jobs: money for things you need, money for things you want, and money you save or invest for later. One common starting template is 50/30/20 — about 50% to needs, 30% to wants, and 20% to saving and investing. The exact numbers can shift, but the habit of deciding first and spending second is what makes it work 🥧
Words to know
- Budget
- A plan that says where your money will go before you spend it.
- Income
- The money that comes in to you, like allowance, gifts, or pay from a job.
- 50/30/20
- A simple split: about 50% for needs, 30% for wants, and 20% for saving and investing.
- Saving
- Keeping money instead of spending it, so it's there when you need it later.
- Giving
- Money you choose to hand to someone else or to a cause you care about.
Try it — no account needed
Every budget has two sides: money coming in and money going out.
Sort each one.
0 / 6 sorted
In the full lesson
- 1Sort into groups
- 2Work out the number
- 3Make the call
Vine has 107 lessons like this one, each written three ways so a 7-year-old and a 17-year-old both get a version that fits.
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