A budget is a plan for spending your money. You determine in advance whether you have enough money for the things you need and want. If you don’t have enough for something specific, it’s important to save money in one category to make room in another category. Think of budgeting and saving as basic tools to accomplish your financial goals.
My sister, Jenny, is currently 14 years old. She’s just started high school this year and my parents have put me in charge of teaching her self-discipline when it comes to handling her money. Back when Jenny was in middle school, she received a weekly…