Financial Literacy (Lesson 1 Budgeting)

It refers to the money received, specially on a regular basis, for work or business or through investments

•  Pocket in

• Income 

•  Savings

• Pocket Out

Tallies all your allocated expenses.

•  Pocket in

• Pocket Left over

• Pocket Out

• Pocket saves

 It refers to  one's independence from financial worries , debts and obligations. It happens   when one has sufficient money to love his life free with all the financial troubles.

• Financial Literacy

• Financial Goal  

• Financial Planning

•  Financial Freedom

Means the process of making a plan to spend your money

• Budgeting

• Savings

• Income

• Expenses 

Refers to one's specific desired amount to meet certain life aspirations.

•  Financial Literacy

• Financial Goal

• Financial Planning

• Financial Freedom

The excess money after all your Expenses are deducted from your Total income.

• Pocket In

• Pocket Out  

• Pocket Left over

• Pocket saves

A skill to comprehend all money matters from acquiring to managing, investing, and helping others.

• Financial Literacy

• Financial Goal

• Financial Planning

• Financial Freedom

It is important to set your financial goal  in budgeting to determine your savings allocation and other course of actions.

• True

• False

According to the Budget guidelines Impulsive buying is okay.

• True

• False

 According to Budget guidelines researching and asking for help before making a major spending is not important.

• True

• False