
Today we have been learning how to use a spread sheet and sheet Managing money can be tricky, especially when you don’t have a lot to spend. I want to share a simple example of how someone keeps track of their money each month.
What They Earn
This person gets money from two places:
Their job salary $1,039.95
Babysitting: $125
Total money they get each month: $1,164.95
What They Spend
Every month, they spend money on different things like
Food 400
Toiletries stuff like soap and toothpaste 65
Petrol gas for the car 90
Going Out movies, eating out 250
Mobile Phone Plan 29.95
Car Loan money they have to pay for their car 180
Clothes: 50
Total money spent 1,064.95
What This Means
They earn 1,164.95 but spend 1,064.95, so they have about $100 left over. That’s good because it means they don’t spend more than they earn. But $100 isn’t a lot if something unexpected happens, like the car breaks down or they need something important.
What We Can Learn
Write Everything Down: It’s important to know where your money goes. This helps you see if you’re spending too much on things you don’t really need.
Pay for Important Stuff First: Things like food, gas, and car payments have to be paid first.
Be Careful With Fun Money: Spending $250 on going out is a lot. Maybe cutting back a little could help save more.
Save for Emergencies: Even if you have just a little money left, try to save it for surprises.
Try to Make More Money: Babysitting helped get extra cash. Doing little jobs can help when money is tight.
The Bottom Line
Keeping track of money is super helpful. Even if you don’t have tons of money, knowing how much you earn and spend helps you avoid problems. Budgeting is just a smart way to make sure your money lasts and you can still have some fun!