William likes to draw! He loves it! He’s always drawing!
The thing is, William makes pretty drawings but he wants to improve!
During recess, Aiko informs him that art classes are given at the recreational centre on Saturdays.
Back home, William asks his mom to sign him up for the classes.
But William is already enrolled in soccer classes this year so his mom agrees on one condition: he must give her 3 dollars every week to help pay for his art supplies.
William thinks about it. Every day of the week, he walks his grandmother’s dog Coco and gets 1 dollar in return.
So in 5 days, he makes 5 dollars.
He can therefore pay his mom the 3 dollars for his supplies and still put aside the remaining 2 dollars.
And later, use his savings to can buy the comic book he saw in the store window.
And with 1 dollar he can even buy some treats for himself or to share with Aiko from time to time.
Proud of his plan, William accepts his mom’s offer. He knows he’ll have enough money to pay for his share.
William just made a budget. A budget consists of calculating the money we earn, less the money we’ll spend to make sure that we’ll be able to fulfill our financial obligations.
Savings is the money we’re able to set aside once we’ve paid for all our expenses. This money can be used to buy something we’ve been dreaming of.
Like a comic book.
Or a gift for his friend Gabriel.
Thanks to his budget, William is now set to become an accomplished artist.