Budget

Examples of a fixed expense:

• Rent/Mortgage

• Car payment

• Childcare

• Loan payment

Why should you have a budget?

• Help you save money

• Allow you to have control of where you want your money to go

• Reach financial stability and achieve your goals

What is one way to sabotage your budgeting goals?

• Spend less on clothing

• Work more hours at your current job or take on a side hustle

• Keep using your credit card without paying off the balance

• Cancel a subscription service

Considered the best strategy for building wealth:

• Zero-Based Budget

• 50/30/20 Method

• Pay Yourself First

• Envelope System

Making a purchase based on an immediate want or due to the pressure of advertising is considered Impulse Buying.

• True
• False

Marie wants to decrease the amount of money she spends on food. Which of the following will help her?

• Going to the grocery store with a list

• Going to the grocery store whenever she needs one or two items

• Deciding what she will have for lunch/dinner that same day

Expenses that vary from month to month, such as entertainment, car repairs, or doctor bills.

• Variable Expenses
• Fixed Expenses

Directions: Choose ONE word and ONE price!

Your Budget: $30.00

Your Total: $35.90

Are you OVER or UNDER the budget?

By how much?

• OVER

• UNDER

• $4.20

• $5.90

Plans that can be accomplished within three months to a year.

• Short Term Goals
• Long Term Goals

Directions: Choose ONE word and ONE price!

Your Budget: $100.00

Your Total: $103.20

Are you OVER or UNDER the budget?

By how much?

• OVER

• UNDER

• $2.80

• $3.20