How to Budget
What is "Net Income?"
The money you make after taxes.
You budget because you want to save this.
Money!
What is 20% of 3,000?
a) 400
b) 600
c) 500
600
According to a survey done by Schwab Investments, 25% of people have said that they are so embarrassed by their poor spending, that they've admitted trying to hide it from:
a) Their kids
b) Their spouses
c) Their parents
b) Their spouses
What is a budget?
An itemized summary of expected income and expenses for a defined period of time.
A Spotify subscription is an example of a what?
Want.
Budgeting gives you________over your money.
Control.
2,000 is what percent of 10,000?
a) 20%
b) 30%
c) 28%
20%
Failing to budget can leave people working for their entire lives. ___% of people have no savings for retirement: which means they’ll have to continue working.
a) 17%
b) 36%
c) 23%
c) 23%
Name something that a budget can help you do.
Help you reach your financial goals.
Help you keep track of how much debt you have.
Provide you with financial stability.
When you're saving money for something, never take your eyes off the _____.
Goal.
You need to budget to stay out of this.
Debt.
What is 45% of 13,000?
5,850
Statistically speaking, most people keep track of their budgets using which of these means?
a) Checkbook
b) Online bank account websites
c) Mobile apps
b) Online bank account websites
(Online bank account websites are used by 70.7% of people who budget; 29.2% use a mobile app; 20.8% use a checkbook)
- Save your receipts
Your Walmart credit card has an interest rate of 15%. Amazon's interest is 10%. Which card should you pay off first?
Budgeting can keep you______on your money goals.
Focused.
Sam just got his first credit card. The spending limit on the card is $1,000.00. Financial experts recommend spending NO MORE than 30% of the limit.
Write the expression that will help us figure out how much he can spend.
"What is 30% of 1,000?"
a) 4
Which steps to creating a budget are MISSING?
1) Track Spending
2)
3)
4) Balance the budget
1) Track sp
2) List income
3) List expenses
4) Balance the budget.
Your car payment is an example of which type of expense (hint: there's two types).
Fixed (because it stays the same every month).
You're not making enough money at your job to cover your expenses. Name something you can do to change that.
Look for another job that pays better. Go back to school if you need to.
Go for that promotion!
Work more hours.
Cut your expenses.
Jamie is looking to buy a car. She knows she can't afford to spend more than 20% of her total income on a vehicle payment.
If Jamie pulls in $4,000 per month from her job, how much "car" can she afford?
$800.00 per month or less.
According to CreditLoan.com, the average American will now pay more than $_________ in interest over the course of a lifetime!
a) $600,000
b) $100,000
c) $400,000
a) $600,000