How to Build a Family Budget
What is a budget?
A budget is how we decide what we will spend our money on, even in stressful times.
How can you design a family budget?
1. Find out if your community offers help.
- Your government may be giving money, or food parcels to families during COVID-19
- Ask if places in your communities are giving support
2. Create a list of how much you spend now.
- Get a piece of paper and a pen
- The amount of money your family can spend on food and supplies can change every month. Write down how much money your family can spend this month!
- Draw pictures of all the things you and your family spend money on each month
- Write next to each picture how much each thing costs, and how many of those items you need in one month
3. Talk about needs and wants.
- Needs: which things are important or needed for your family to survive? (Examples: food, soap to wash hands, medicine for family members)
4. Build your own budget.
- Find a bag of stones or anything with lots of bits. This is your money for the month.
- As a family, decide what pictures you will spend your money on, and put the stones on your picture
- If you can save even a little bit of money for the future or an emergency—it is great!
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