Newsroom

New Mapping Your Future video on creating a budget

By Beth Ziehmer

November 30, 2017

If you are a high school or college student, you have to plan a lot of things, including the classes you need to take in order to graduate. In addition to the plan for your education, create a plan for spending your money.

Mapping Your Future has created a budget video to help teens and young adults to prepare their first budget.

Creating a budget can be an intimidating experience, but it is an essential skill. Having a budget to follow can help you make wise financial decisions throughout your life, help you be independent, and accomplish your goals and dreams.

The video provides an example budget and details on the following steps:

1. Make a list of your values.
2. Set your goals.
3. Determine your income.
4. Determine your expenses.
5. Create your budget.
6. Pay yourself first!
7. Be careful with credit cards.
8. Check back periodically.

Use Mapping Your Future's budget calculator to establish your first budget.