Budgeting Ideas to Save

If an expense can NOT be removed from your budget to save money, it is considered a _____.

• Income

• Want

• Need

• Savings

Tags

CCSS.RI.5.5

CCSS.RI.6.5

CCSS.RI.7.5

CCSS.RI.8.5

CCSS.RI.9-10.5

Preparing a budget includes

• Income, Expenses, Saving
• Only listing your expenses
• Only listing your debts
• Only listing your income

1.A plan for future spending and saving, weighing estimated income against estimated Expenses.

• Gross Income

• Debt

• Expense

• Budget

3.The state of owing money to another individual or business, or the amount of money borrowed.

• Gross Income

• Net Income

• Debt

• Budget

Tags

CCSS.6.NS.C.5

8.The money an individual spends regularly for items or services.

• Budget

• Expense

• Checking Account

• Financial Plan

Needs

• Necessary items that are paid monthly./yearly such as food, housing, transportation, utilities, & Insurance

• Things you would like to have but are not necessary for life.

• Income from all sources that are spent for necessary items

• Anything that you might incur an expense for.

Tags

CCSS.3.OA.D.9

Which of the following is generally the most expensive category in a person’s budget?

• Healthcare

• Clothing

• Transportation

• Housing

When making a budget, a person’s needs should come before their wants.

• True

• False

Tags

CCSS.RI.7.2

CCSS.RI.8.2

CCSS.RL.7.1

CCSS.RL.8.1

CCSS.RL.9-10.2

Of all the choices, which one should you budget for first?

• Groceries

• Entertainment

• Cell Phone Bill

• New Car

Tags

CCSS.6.EE.B.8

Why is budgeting important?

• It's good to live pay check to paycheck
• You should always live at your parents house
• You might get into a house or other large expense  you can’t afford
• Always spend more than you can afford