Budgeting

Budgeting

What is budgeting

What is budgeting?

Budgeting is the process of creating a plan to spend your money!

What is a budget?

A budget is a financial plan for a defined period.

An estimate of income and expenditure for a set period of time

Multiple Choice

Find the best definition for the underlined word:

An estimation of income and expenditure for a set period of time

• Rough Calculation

• Total goods

• Guess

• Random Number

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Find the best definition for the underlined word:

An estimation of income and expenditure for a set period of time

• Expenses

• Money received through work or investments

• Cash

• Credit

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Find the best definition for the underlined word:

An estimation of income and expenditure for a set period of time

• Money earned

• Credit earned

• Money spent

• Money lost

What is a budget?

Pay attention!

https://www.youtube.com/watch?v=z3lydPM2Xzw

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Based on the video...

What are the two ways that you can fix an unbalanced budget?

• Increase income

• Make more money

• Ask an accountant to review your budget

• Decrease expenses

Essential vs Non-essential

What does this mean?

Why is budgeting important

Multiple Select

Check all of the options most likely to be considered 'non-essential'

• *Perrier Water

• Clothes

• Netflix Subscription

• Gas

• Electricity

Multiple Select

Check all of the options most likely to be considered 'essential'

• Electricity

• Rugby tickets

• Parking tickets

• Groceries

• Gas