[ r e a l w o r l d m a t h : p e r s o n a l f i n a n c e ]
5
If you don’t make a budget, you’re more likely to run out of money.
all of your expenses. Balancing your budget is a skill
you will need all of your life.
Creating a budget begins with income. An allowance
is one type of income. In some families, the amount of
your allowance is related to what jobs you do around the
house. Wages are another type of income. Wages are
earned when you work for others. Gifts are also a source
of income. You might receive money for birthdays or
other special occasions. Allowances, wages, and gifts
are three ways that students can receive income.
