What is a budget?
A budget tells you:
- How much money you get
- How much you can spend
Why should you have a budget?
A budget helps you get the things you need. It also helps you get the things you want.
What are needs and wants?
We all have needs and wants. Here are some things that everyone needs:
- A place to live
You live in a licensed home, so you have a place to live, and your food is taken care of. But you have to plan to get other needs like clothes.
Here are some things that people want:
- Take a trip
- Go out to dinner
- Buy a CD of music you like
How to use this budget
Ask someone if you need help. Ask a friend, family member or someone who works with you. Here is what you do:
- Write down how much money you get each month.
- Write down how much money you plan to spend each month.
- Write down how much money you did spend in the month.
Use one of these budgets for each month. On a blank piece of paper, write down every time you spend money. Write down how much and for what. Then at the end of the month, add up all the money you spent eating out (for example). This will help you change your budget if you need to.
Some things to think about:
- You cannot spend more money than you get.
- You can change your budget if you need.
- Try to save a little each month.
- Save for things you really need. Then save for things you want.
A Budget for a Month If You Live In a Group Home
Download the attached document to use a budgeting table.