Making a Budget: Managing Money

Making a Budget: A Successful Way for Managing Money

By Yasmania Carter

​A budget is an estimation of revenue and expenses over a specified future period of time and is usually compiled and re-evaluated on a periodic basis.

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​What is a budget?

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1. Calculate your net income

2. List monthly expenses

3. Label fixed and variable expenses

4. Determine average monthly costs for each expense

5. Make adjustments

​What are the steps to making a budget?

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1. It Helps You Keep Your Eye on the Prize

​​2. It Helps Ensure You Don't Spend Money You Don't Have

​3. It Helps Lead to a Happier Retirement

​4. It Helps You Prepare for Emergencies

​5. It Helps Shed Light on Bad Spending Habits

​6. It's Better Than Counting Sheep

What are the benefits with budgeting?

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Multiple Choice

What is the definition for budget?

• A list of everything that you have spent and the price only

• An estimation of revenue and expenses over a specified future period of time and is usually compiled and re-evaluated on a periodic basis.

• A list of every paycheck that you have received.

Open Ended

Why do you think that it is beneficial for people to budget no matter what?