Basics of Budgeting 7

When creating a budget, what are the first things you should examine?

• Interest rates and taxes

• The number of goods and services you already have

• Income and expenses

• How much time you spend playing video games

Why is creating a budget so important? Check all that apply.

• It can help you reach your savings goals for what you want or need.

• It can help you keep track of your neighbor's financial habits.

• It can help you make better financial decisions.

• It can help you get a better job.

• It can help you see your spending habits so you can adjust them to what you want or need/

What is a specific financial goal you would like to achieve in the next year?

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What are your sources of income?

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What things do you normally spend your money on? (Food, clothes, video games/electronics, hobbies, movies)

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If you can't reach your savings goals for what you want/need, what would you either spend less on or cut out altogether to achieve your goals in a timely manner?

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