50/30/20 Rule
Budgeting
Reducing Expenses
Saving Money
100
Name 2 examples of needs
Rent, Utilities, Food, Transportation, Insurance, Basic clothing...
100
What is a budget?
A budget is a plan that helps you manage your money
100
What is per unit pricing?
Per unit pricing tells you how much you're paying per ounce, per pound, or per item.
100
What is an rainy day fund?
Emergency fund
200
Name 2 examples of wants
hobbies, entertainment, eating out, shopping, travel...
200
What can a budget help with?
Tracking income and expenses
Setting and achieving goals
Avoiding or reducing debt
200
What is the unit price: $5.99 for 12 rolls?
$.50
200
Name a method people use to set money aside
Automatic deposit, piggy bank, budget, apps, goal setting strategies
300
Name something you would save for:
Emergency fund, retirement, college, expensive purchase...
300
What is debt?
When income is less than expenses
300
What is the unit price: $7.99 for 18 rolls?
$0.44
300
What is a planned expense
things you know are coming, like rent, a car payment, or a phone bill.
400
What categories make up the 50/30/20 rule?
needs, wants, and savings.
400
How do you balance a budget?
Increase income
Decrease expenses
400
What is shown in the circle?
Unit price
400
What is an unplanned expense
things that pop up unexpectedly—think a medical bill, car repair, or last-minute gift.
500
How is the 50/30/20 rule divided?
50% of your income on your needs, 30% on your wants, and 20% on your savings.
500
You have a monthly income of $4,000. You plan to follow the 50/30/20 rule for budgeting.
How much of your monthly income should be going towards needs?
$2,000
500
Which is the better deal? 
The left
500
How many months' of income should you have saved up in an emergency fund?
3-6 months