Budget Basics
What is a budget?
A plan for managing money
What should you do before making a budget?
Track your spending
What is mindful spending?
Thinking carefully before buying something
What is income?
Money you earn
What are “spending leaks”?
Small unnecessary expenses
What is a savings account?
A place in a bank to keep money safe
What are expenses?
Money you spend
What is one way to save money from the text?
Reduce expenses / plan spending
What are emergency savings?
Money saved for unexpected situations
What happens if expenses are higher than income?
You lose money / go into debt
Why do people fail to save money?
They spend too much / don’t plan
What are investments?
Using money to earn profit in the future