Show students how to prepare their own budget. A budget is a money map which shows us how much money we have available to spend and how we should spend it. Budgets are used by adults, businesses and governments alike. Even kids make budgets. A budget makes it easy for us to see ahead of time what expenses we will have so that we can be prepared.
Budgets make it easy for people to see clearly how they are spending their money.
The first step is to write down daily how you spent your money. By keeping a daily record of how we spend our money, we will be able to see over a week's time where our money goes. Once we know where we're spending our money, we can decide what areas we can afford to spend less on and therefore save money. Now we're ready to make a budget. Budgets highlight those expenditures which must be made, as compared to those which we would like to make.