Why do we need to create budgets?

Match the following:

• Money earned before tax...

• Debt

• A plan of income and expenses

• Budget

• Take home pay

• Net income

• Money you owe

• Gross income

• Required. goes to the state/country

• Tax

Name one thing that tax money is spent on:

What is forecasting?

• Trying to predict the future

• Opening a savings account

• Rolling a four with dice

• Predicting the weather

Name three expenses you may need to pay for in the future:

Write or draw something you buy each week:

Name one thing that we might write a budget for?

Which of these can be found on a budget?

• Total cost

• How happy you are with purchases

• The date or timeframe of planned spending

• Shop opening times

Give an example of a want and a need:

What is a pay slip?