June 1, 2021
A summer job offers many benefits for students in addition to the money earned.
Of course, there's the opportunity for work experience, but students can also practice some important life skills with their summer jobs.
One of those life skills is managing a budget (sometimes called a spending plan) for those summer earnings.
To create a simple budget for summer earnings, students should do the following:
By learning how to create and track a budget now, students can make mistakes without the serious consequences that might occur later in life should a financial mistake be made. By practicing budgeting now, students establish good financial habits that last a lifetime.
Find more information on creating a budget at mappingyourfuture.org/money/budget.cfm and use our budget calculator.