One of the first steps to financial literacy is understanding the basics of budgeting. Creating a budget can help you track your income, whether that's an actual job or money you earn from doing chores. Tracking expenses, setting financial goals, and making informed decisions about your money is all a part of budgeting. Our budgeting tools can guide you through the process of creating a budget that works for you.

First, write down all the money you get and everything you spend on (this is your income and expenses). You have to pay the same amount for some things every time, like rent or a loan (these are your fixed expenses). Other things, like food or toys or clothes you buy, may change cost (these are not fixed expenses, they are variable expenses). It's important to think about what you really need and what you just want when doing a personal budget.

Next, decide what you want to save money for and plan how much to save each time you get money. Make sure you put enough money aside for things you need the most. Keep an eye on how much you spend so you don't go over your budget. You can use cool tools or apps to help you with your budget and reach your money goals!

Financial literacy is not just about managing your own money; it's also about understanding how the economy works and how financial decisions can impact society as a whole. By educating yourself about financial literacy, you can become a more informed and empowered consumer, investor, and citizen.