Teen Budget
Calculator

This Calculator by MoneyFit.org helps you, our teenage neighbors and friends, make informed and positive decisions about what to do with your money, whether it is income from employment, gifts, allowance or other.

How this calculator can help

If you’re in middle or high school and you have your basic needs (housing, food and clothing) paid for by parents or guardians, the Budget Calculator For Teens offers a quick and simple approach to figuring out how much each month you should place into savings and spend on being responsible. Additionally, the Teenager Budget tool recommends how much to put toward your short-term savings goals and your long-term career plans. Lastly, but not least, the best parts of this budget allow you to prepare for the two joys of being generosity and having fun.

This tool can help you fix the dilemma of never having anything left over after payday to spend on fun and high priority activities with family and friends. Too many teenagers spend 100% of their income within a day or two of payday, leaving nothing for savings, long-term goals or generosity. Living within the Teenager Budget recommendations, you can have your cake and eat it too.

Teen Budget Calculator

Teen Budget Calculator
$
Net Income is also known as "Take Home," "After Tax" or "Paycheck" income (as opposed to Gross Income)
Current School Level

Recommended Money Pie Budget Allocations

BE NICE=Donate to a charity, church or cause; Help out a friend, neighbor or stranger.

BE SMART=Place in a savings, College 529 or Coverdell Account for college, career training or internship travel.

BE PATIENT=Place in savings for short-term goals (gadgets, gifts, car or truck, gaming gear, summer camp, etc.).

BE READY=Place in separate savings for ANYTHING you have an impulse to buy, for splurges, and for things on sale you just can't pass up.

SPEND IT=Keep in cash, in checking for a debit card, or on pre-paid card to have fun, use for entertainment and recreation, enjoy food and snacks, take care of a pet, or have fun with friends.

%
%
%
%
%

%

This Calculator by MoneyFit.org helps you, our teenage neighbors and friends, make informed and positive decisions about what to do with your money, whether it is income from employment, gifts, allowance or other. The entire pie represents your net income (the money you have to spend. for paychecks, it would be the amount of the paycheck, not your pre-tax earnings). Recommended percentages are adjustable.

Related Calculators

Find important answers, advice, and analysis to a wide range of personal finance topics in our Money Motivations blog.

moneyfit graphic icon calculators 4
Can provide you a simple approach to your monthly personal and household budgeting.
moneyfit graphic icon calculators 3
Calculate your estimated monthly payment through a Debt Management Program.
moneyfit graphic icon calculators 5
Offers a straightforward approach to planning your monthly spending.
moneyfit graphic icon calculators 7
Will help you financially prepare for your planned upcoming vacation.
moneyfit graphic icon calculators 1
The 50-30-20 Rule can provide you the simplest approach to your monthly budgeting.
Scroll to Top