Budgeting

Budgeting

by Leah Adams

Fill in the Blanks

Besides taxes, what are the three largest cost categories for families?

Multiple Choice

How much more do families spend on transportation than on food?

• $2,900

• $847

• $3,847

• $1,847

Fill in the Blanks

What percent of a typical families spending would you consider needs not wants?

Open Ended

What expenses would you expect to stay the same month to month? What expenses would change month to month?

Open Ended

You hear a friend complain about how Americans just waste their money all the time. Based on the data we just looked at, do you agree or disagree? Why?

​6 Reasons Why You Need a Budget

1. Keeps your eye on the prize (of achieving your financial goals)

2. ​Ensures you don't overspend

3. ​Leads to a happier retirement

4. Prepares you for emergencies

5. Identifies bad habits

6. ​You will have less stress over financial problems

Open Ended

Out of the six reasons to keep a budget, which one is most important to you?