That’s it, the school year ended and the summer vacation began.
When you manage your money during summer vacation, you can use it for things you really want. Make the most of freedom, within the money available. This is true for adults and it is also true for teenagers.
Encourage children to make a vacation budget.
It is possible to start at a relatively young age, it is worth trying already at the age of 12, 13. You can use the Excel we prepared (download below).
In the income table:
The income earmarked for vacation expenses should be updated in the table. For example: pocket money, savings, wages and tips.
In the expense table:
- Keep up to date with activities planned for vacation.
For example: a movie
- Estimate how much each activity will cost and how many times it will be done during your vacation.
For example: How much does it cost to go to a movie? The cost of the ticket, travel, food and drink must be included.
In the table of income versus expenses:
In this table you can see whether there is enough money for what is planned.
Are revenues higher than expenses? Have fun.
Are expenses higher than revenue? There is not enough money for the planned, the program of activities must be adjusted to the expected money.
We have not forgotten that this is a great freedom and there is nothing like the freedom to flow and change programs according to the fun. However, it is recommended to keep track of the actual amounts you bring in and the amounts you actually spend so that the money will be enough for the whole vacation.