Show Me The Money
The three main parts of any budget
what are income, expenses, and savings?
Rent, car payments, and student loan payments all fall into this category of expenses
What are fixed expenses?
This type of fund is like a safety net for unexpected expenses
What is an emergency fund?
If you earn $2,000 a month, this is the amount you should ideally save by "paying yourself first."
What is $200?
A bill like car insurance, which comes every 6 months, is this type of expense
What is a periodic expense?
This budgeting strategy means you put money into savings before paying any other bills or expenses
What is "pay yourself first"?
If your monthly expenses are $1,500, this is how much you would need to build a 3-month emergency fund
What is $4,500?
If you spend $150 a month eating out, how much is that total spending in a year?
What is $2,400?
You have $50 left after all monthly expenses. You decide to put 60% in savings and 40% for fun. How much goes into each?
What is $30 savings, $20 fun?