lesson 1
A budget is a ____ for your money
what is plan
The first component of a budget is ______.
What is income?
what is "save a $500 emergency fund"?
one of the five foundations
After you make a budget, you need to ____ every expense.
what is track
The average American household spends more than ____of their annual income.
90%
money flows in two ways: ___ and ____
what is in and out
The second component is ______.
What is giving?
what is a zero-based budget?
your income - your expenses should = zero
Keeping track of your expenses will help you _____ your budget.
what is adjust
If you work mostly odd jobs or you have a part-time job and the number of hours you work varies from week to week—you earn what’s called an________
Irregular Income
95% of people agree that budgeting is _______
what is important
The third component is ____________.
What is saving money?
what is one of the most important categories in a budget?
a miscellaneous category
A budget is never going to be a ____ process
what is perfect
Do I have to budget in high school?
Yes
money flows through giving, saving, and _______
what is spending
What is spending money?
what should you prioritize in a budget?
the 4 walls
One of the best ways to track your expenses is the _____
what is envelope system
Simply ____ you should budget is very different from ___ budget.
Knowing, doing
only ___% of people do a budget every month
what is 35%
Your ______ is any money you earn of receive as a gift.
What is income?
a zero-based budget does not mean you have zero dollars in your______ account.
checking account
when you use ____, you end up spending ____
what is cash and less
You’ve got to make budgeting a _____!
Habit