How to Budget
Name one way to budget.
What is record your expenses, calculate things ahead of time, track spending and income, setting spending limits, etc?
You budget because you want to save ______.
What is money?
Something you must have to live, like food or shelter.
What is a need?
Putting aside small amounts of money over time.
What is saving regularly?
Comparing prices before buying helps you do this
What is getting the best deal?
How can you estimate your income for a week?
What is multiple hours you will work by your rate, consider/subtract taxes taken out?
Spending more than you make.
What is insufficient budgeting, can lead to debt?
Something you would like but can live without.
What is a want?
Giving gifts that cost little but mean a lot.
What are thoughtful gifts?
Deciding how much you can spend before shopping.
What is setting a budget?
When you choose something to save for this is called?
What is a goal?
Budgeting for needs first helps avoid this problem.
What is overspending?
Christmas gifts usually fall into this category.
What are wants?
A good place to keep money you're saving.
What is a savings account or savings jar?
Checking prices at different stores before buying.
What is comparison shopping?
What does the does the 50/20/30 percent stand for?
What is 50% on needs, 30% on wants, and 20% on savings
A benefit of budgeting is so you can always have money for _________.
What is emergencies?
Choosing needs before wants is an example of this skill.
Checking your progress toward you holiday savings goal.
What is tracking savings?
Asking "Do I need this?" helps prevent this problem.
What is overspending?
The income MUST EQUAL or be more than
What is expenses?
You need to budget to stay out of this.
What is debt?
Thinking before spending money shows this habit.
What is financial responsibility?
Writing down what you spend during the holidays.
What is recording/keeping track of expenses?
Buying items during certain times of the year to save money.
What is seasonal shopping?