![]() When the budget cycle is up, it’s time to do a few things: If not, then you can encourage them to save all of their receipts (such as in these free money envelopes for kids) so that they can recreate what they spent at the end of the week when they reflect on how their budget went. ![]() Help your teen to track as they go, as that’ll be easier if they’re very new to budgeting. Throughout the week, add in what you actually spend, earn, and put into savings (write in new rows for unplanned spending and earning). Keep the money where you won’t spend it so that by the time that expense comes up, you’ll have the full amount to pay it. Make a record of that expense amount on each of the four worksheets you’ve printed out. Hint: have an expense that only happens once a month? Divide the total cost by your budget cycle (divide by 4 for a four-week budget cycle, or 2 for a bi-weekly budget cycle) to figure out how much to set aside on each budget worksheet. Remember, income can come from different kinds of sources, such as chore commissions, allowances, paychecks, extra money earned around the neighborhood, birthday money, etc.
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