SAVING+SPENDING

Specific spending categories are important to consider when creating a budget so you can.....

• know how much money to donate

• break down your income and know where you are spending

• know what your utilities bill is

• know how much you can spend on Amazon each month

Which is NOT a typical goal for a savings account?

• To create an emergency fund
• To pay for higher education
• To save for a new car
• To buy groceries for the week

Should your monthly bills be more than your income?

• Yes

• No

A strategy that helps quantify and encourage savings is the 50/30/20 method for budgeting. What is the break down?

• 50% needs, 30% wants, 20% saving

• 50% needs, 30% savings, 20% wants

• 50% wants, 30% saving, 20% needs

• 50% saving, 30% wants, 20% needs

Match the coins to their values. (ha ha, this is just for fun)

• 5 Cents

• 
• 1 Cent

• 
• 10 Cents

• 
• 25 Cents

• 

Who is on the $1 bill? (just for fun)

• Theodore Roosevelt

• Abraham Lincoln

• Alexander Hamilton

• George Washington

Who is on the $5 bill? ( more fun)

• Andrew Jackson

• George Washington

• Abraham Lincoln

• Thomas Jefferson

About how much should you save in an emergency fund?

• 1-3 months of living expenses
• 3-6 months of living expenses
• 6-9 months of living expenses
• 9-12 months of living expenses

If you make $15.50 an hour and work 39 hours how much money will I make for the week before taxes?

Mathematical Equivalence

ON

What is a general rule of thumb on how much you should save?

(Think of the 50%,30%,20% rule)

• 5% of your income
• 10% of your income
• 20% of your income
• 30% of your income