Budgeting

What is the purpose of a budget?

• A budget allows you to go to the movies and buy popcorn.

• A budget allows you Mom & Dad to save money for you.

• A budget allows you to keep track of the money you make and the money that you spend.

• A budget allows you to tell your boss that you are not able to come into work.

Do you feel that you've had good money habits modeled for you?

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

Budgeting is crucial to your financial success.

• True

• False

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

• Income

• Want

• Need

• Savings

Preparing a budget includes

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

Which one is a fixed (same amount, same time) payment?

• food

• power

• mortgage

• petrol

Car Payment

• Fixed Expense

• Variable Expense

Fixed or variable expense: Groceries

• Fixed

• Variable

Fixed or variable expense: Rent?

• Fixed

• Variable