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Budgets

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Sam Spurlin

1) A budget is a plan for how to spend your money by setting limits in different spending categories and sticking to them. 2) There are key reasons to make a budget - to know where your money is going, ensure expenses are less than income, and identify problem spending areas. 3) To make a budget, track expenses to estimate categories, create a template to list income/expenses, analyze results, and adjust expenses as needed. Spreadsheets or cash envelopes can help track budget categories.

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Keeping a Budget
a couple thoughts powerpoint lectures, activities, guided notes, old school notes, reading, reading guides. im way too lenient with late work. That is going to change. trying to spice things up-- but looking for suggestions.
objective understand what a budget is and the steps required to create one.
what is a budget? a plan about how to spend your money. Why do you need a plan? give yourself limits in different categories & then try to stick to them.
why bother to make a budget? 1. know where your money is going. 2. make sure your expenses < income. 3. identify problem areas of spending.
how do I make a budget? 1. track expenses to get estimates. 2. make a budget template (or use a pre-made one). 3. track income/expenses. 4. analyze results. 5. adjust expenses.
what tools do I need? paper & pencil. excel (or other spreadsheet software). the envelope system.
what might cause a budget to fail? unexpected expenses. sudden loss of income. over-ambitious goals.
budgeting tips pay yourself first! if you dont trust yourself with a credit card, use only cash. track your expenses. expenses must be less than income for sustainable lifestyle.
want to learn more? internet resources www.thesimpledollar.com www.getrichslowly.org books Your Money or Your Life The Total Money Makeover
20 square income budget game You have an income of 20 squares. You must place at least one square in each of the starred categories first (required expenses). Use the rest of your squares to finish your budget. Be prepared to share.
my 20 square budget transportation- 1 housing- 4 squares square insurance- 4 clothing- 1 square squares (2 auto, 2 (laundry) health) savings- 4 squares furnishings- 1 communication- 2 square squares food- 2 squares personal care- 1 square
breaking it down how did you decide what to spend your money on? how do your values affect your spending choices? Your goals? Your past experiences? learn anything about yourself?
round 2 your income has been reduced to thirteen squares. erase some selections (you may also make new choices).
my 13 square budget housing- 3 squares clothing- no insurance- 3 squares squares (2 auto, 1 savings- 1 square health) communication- 2 furniture- no squares squares personal care- 1 food- 2 squares square transportation- 1 square
breaking it down again what did you give up? why? were there any hard choices you had to make?
Budgets
my 2008 expenses What do you notice about the summer months? What might change about this once I graduate? Anything cost more than you expect?
objective, revisited understand what a budget is and the steps required to create one. Got it?
leave the classroom with this Budgets help you to reach your financial goals. BUT, you have to do what works for you. A budget is worthless if you dont stick to it, so make it reasonable.

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Budgets

  • 2. a couple thoughts powerpoint lectures, activities, guided notes, old school notes, reading, reading guides. im way too lenient with late work. That is going to change. trying to spice things up-- but looking for suggestions.
  • 3. objective understand what a budget is and the steps required to create one.
  • 4. what is a budget? a plan about how to spend your money. Why do you need a plan? give yourself limits in different categories & then try to stick to them.
  • 5. why bother to make a budget? 1. know where your money is going. 2. make sure your expenses < income. 3. identify problem areas of spending.
  • 6. how do I make a budget? 1. track expenses to get estimates. 2. make a budget template (or use a pre-made one). 3. track income/expenses. 4. analyze results. 5. adjust expenses.
  • 7. what tools do I need? paper & pencil. excel (or other spreadsheet software). the envelope system.
  • 8. what might cause a budget to fail? unexpected expenses. sudden loss of income. over-ambitious goals.
  • 9. budgeting tips pay yourself first! if you dont trust yourself with a credit card, use only cash. track your expenses. expenses must be less than income for sustainable lifestyle.
  • 10. want to learn more? internet resources www.thesimpledollar.com www.getrichslowly.org books Your Money or Your Life The Total Money Makeover
  • 11. 20 square income budget game You have an income of 20 squares. You must place at least one square in each of the starred categories first (required expenses). Use the rest of your squares to finish your budget. Be prepared to share.
  • 12. my 20 square budget transportation- 1 housing- 4 squares square insurance- 4 clothing- 1 square squares (2 auto, 2 (laundry) health) savings- 4 squares furnishings- 1 communication- 2 square squares food- 2 squares personal care- 1 square
  • 13. breaking it down how did you decide what to spend your money on? how do your values affect your spending choices? Your goals? Your past experiences? learn anything about yourself?
  • 14. round 2 your income has been reduced to thirteen squares. erase some selections (you may also make new choices).
  • 15. my 13 square budget housing- 3 squares clothing- no insurance- 3 squares squares (2 auto, 1 savings- 1 square health) communication- 2 furniture- no squares squares personal care- 1 food- 2 squares square transportation- 1 square
  • 16. breaking it down again what did you give up? why? were there any hard choices you had to make?
  • 18. my 2008 expenses What do you notice about the summer months? What might change about this once I graduate? Anything cost more than you expect?
  • 19. objective, revisited understand what a budget is and the steps required to create one. Got it?
  • 20. leave the classroom with this Budgets help you to reach your financial goals. BUT, you have to do what works for you. A budget is worthless if you dont stick to it, so make it reasonable.