Budget 101
Focus on spending on basic needs such as housing, food, and healthcare
What is prioritizing your expenses?
A plan that helps you manage money
What is a budget?
Spend however much you want and for anything you want until you have 0$
What is not having a budget?
Credit is a right or privilege
What is privilege
Lloyd and Harry
What is Dumb and Dumber?
The economy and personal finances can change from time to time. You should....
Review and adjust your budget regularly.
3-6 months savings
What is a good amount for an emergency fund?
Of your income, allocate 50% for needs, 30% for wants, and 20% for savings and goals.
What is the 50/30/20 rule?
People's homes
What is the largest debt for most families?
3 men go to Las Vegas together and end up with a baby
What is The Hangover
If you find yourself overwhelmed by debt, you should...
What is seek help from a professional in finance.
Spend less than you earn
What is the 1st rule of budgeting?
Of your income, allocate 70% for needs, 20% for wants, and 10% for saving and goals
What is the 70/20/10 rule of budgeting?
Bringing several debts together into one
What is debt consolidation?
A teenager ditches school with a friend and is convinced to take his Dad's car. They accidentally drive it through a glass garage.
What is Ferris Bueller's Day off
Helps reduce stress and take control of your money
What are reasons to have a budget?
If you are living paycheck to paycheck, you might want to....
What is make adjustments to your budget?
Jackie Sylvie
Who is Michael's Mom?
4-5 years
What is the common length in years of a new car loan?
An African Prince moves to New York and starts working a fast-food place.
What is coming to America?
Chickens
What is Amber's favorite animal?
Worked at another CIL before working at REACH
Who is Allison?
Add cash to an individual envelope for each expense. Only pay for expenses from corresponding envelopes
What is the Envelope system of budgeting?
Installments
What is the term for periodic payments?
A man has to repeat grades 1-12 to prove himself worthy of his father's inheritance
What is Billy Madison