SS Personal Finance: Making Budget

a plan to manage your money by monitoring your income and tracking your expenses

• Budget

• Spending

• Savings

Pick which one best goes with this statement:

Allowances, Salary/Wages, Interest, Profits

• People get money or Income, in different

• People have to make decisions on how they spend or give away their money

• People have to make decisions on if they will save or spend their money.

  Pay yourself first!

expenses are expenses that do not change from week to week or from month to month. They stay the same.

• Fixed Expenses

• Variable Expenses

• Savings

_____ expenses are expenses that change from week to week or from month to month, They may or may not occur on a regular basis. ex: groceries car repair, recreation or fun.

• Fixed Expenses

• Variable Expenses

• Opportunity Cost

People have to make decisions on how they spend or give away their money.

• Making a choice

• Savings

• Expenditures or Expenses