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The Student Budget Form Worksheet

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Accounting

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Foundations in Personal Finance High School
Edition
C HAP T E R 3
The Student Budget Form
Follow the instructions below to complete a student budget.
1
Add Up Your Monthly Income
Write your monthly income in the box at the bottom of the page ( ), including any
money your parents give you. This is the amount you have to spend for the month.
Pretty simple, right?
2
Estimate Your Spending
Within each category, like RECREATION, there are items like Movies and Sporting
Events. Start at the top and work your way down, filling out the Budgeted column
( ) first. Then add up each subcategory and put that number in each category’s
Total box (e.g., ).
* REMEMBER: Your spending will change from month to month. Just put a “$0” in
categories where you don’t plan on spending any money.
* NOTE: The envelope icons ( ) represent good options for cash envelopes.
3
Total Each Category
Go through the form and add up all of the category Total boxes (e.g., ). Write that
grand total in the Monthly Outgo box ( ). That’s how much you spend every month.
The goal is to spend every dollar you make, but no more. So if your Outgo is greater
than your Income, you need to bring down the budgeted amount on some items. If
your Outgo is less than your Income, you need to increase the amount in some area
like College savings or Restaurants.
4
Get to Zero
Once your Outgo is the same as your Income, write a zero in the Zero box at the
bottom ( ). You’re done!

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Foundations in Personal Finance High School
Edition
C HAP T E R 3
The Student Budget Form
Start Here
To begin your journey toward financial success!
TRANSPORTATION
Budgeted
GIVING
Budgeted
Gas
$60
Charity
$0
Car Insurance
$ 100
Other: _____________________
$0
Oil Changes
$ 20
GIVING TOTAL
$ 0
License & Taxes
$ 10
SAVING
Budgeted
TRANSPORTATION TOTAL
$ 190
Emergency Fund
$ 100
PERSONAL
Budgeted
College
$ 100
Cosmetics / Hair Care
$0
Car & Repairs
$ 100
Music / Technology
$ 40
Computer
$ 0
Gifts
$ 0
Other: _____________________
$ 0
Pocket Money
$ 10
SAVING TOTAL
$ 300
Cell Phone
$ 65
FOOD
Budgeted
Other: _____________________
$ 0
Restaurants / Eating Out
$ 70
PERSONAL TOTAL
$ 115
School Lunch / Snacks
$ 20
RECREATION
Budgeted
FOOD TOTAL
$ 90
Movies
$ 70
CLOTHING
Budgeted
Concerts
$ 0
Clothes
$ 75
Sporting Events
$ 0
Sports Jerseys / Apparel
$ 0
Other: _____________________
$ 0
CLOTHING TOTAL
$ 75
RECREATION TOTAL
$ 70
$ 840 (10.50 an
hour *25 hr*4
weeks*.8 (80%
kept))
$840
=
$0

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The Student Budget Form Follow the instructions below to complete a student budget. 1 Add Up Your Monthly Income Write your monthly income in the box at the bottom of the page ( ), including any money your parents give you. This is the amount you have to spend for the month. Pretty simple, right? 2 Estimate Your Spending Within each category, like RECREATION, there are items like Movies and Sporting Events. Start at the top and work your way down, filling out the Budgeted column ( ) first. Then add up each subcategory and put that number in each category’s Total box (e.g., ). * REMEMBER: Your spending will change from month to month. Just put a “$0” in categories where you don’t plan on spending any money. * NOTE: The envelope icons ( 3 ) represent good options for cash envelopes. Total Each Category Go through the form and add up all of the category Total boxes (e.g., ). ...
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