Build a simple monthly budget of a teen's income, spending and savings.
A teen's income from a part-time job and allowance is split into needs, wants and a savings target. Whatever remains after those three is the discretionary buffer that keeps the budget honest. Learning to live inside a paycheck at fourteen is far cheaper than learning the same lesson at thirty-four, so a first budget builds lifelong money habits.
Teen Budget
Leftover = income - needs - wants - savings target
Leftover = income - needs - wants - savings target A teen's income from a part-time job and allowance is split into needs, wants and a savings target. Whatever remains after those three is the discretionary buffer that keeps the budget honest.
Learning to live inside a paycheck at fourteen is far cheaper than learning the same lesson at thirty-four, so a first budget builds lifelong money habits.
This calculator takes 5 inputs: Part-time income, Allowance, Needs spending, Wants spending, Savings target. The pre-filled defaults are a realistic starting point — replace them with figures from your own environment for a result you can act on.