Question about budgeting for an emergency fund

Hey, I’m 16M and I’d like to get some advice on budgeting. I want to set up an emergency fund before summer—around 1,000 euros. I currently have 700 euros saved. My income is variable, but I get a fixed amount of 50 euros as pocket money and earn about 100 euros each month from babysitting. I’ll also be working shifts at the supermarket soon. I don’t have many fixed expenses since my parents cover most things, but I’m planning to buy a PC for 1,500 euros this year. I also buy filament for my 3D printer, which costs around 20-40 euros a month, but I sell prints to friends and get some money back. Can anyone help me set up a plan with estimated percentages?

You seem to have a good grasp of your finances. For your emergency fund, since you need 300 euros more by July, I suggest saving 100 euros each month. After that, focus on your PC fund. Make sure to prioritize your emergency savings first, and consider setting aside 10-20 euros monthly for unexpected expenses.

You’re doing great with your savings. For your emergency fund, you’ll need 300 euros more to reach 1,000 euros by July. If you save 100 euros each month, that will get you there! After July, you can then focus on saving for your PC.

Just save around 100 euros a month, and you’ll hit your 1,000 euros for your emergency fund by July. You don’t have many expenses, so it should be manageable. After that, focus on saving for your PC. Stay committed to your goals.

Consider learning more about personal finance. Websites like Education Tech Blog have great resources for young adults looking to manage their money better.

I suggest using budgeting apps to help you keep track of your savings goals. They can automate some of the processes and make it easier to manage your money.