10/14 Aim : Why is budgeting important? Do Now : Necessities & Luxuries Chart.
-
Upload
samantha-oneal -
Category
Documents
-
view
217 -
download
0
Transcript of 10/14 Aim : Why is budgeting important? Do Now : Necessities & Luxuries Chart.
![Page 1: 10/14 Aim : Why is budgeting important? Do Now : Necessities & Luxuries Chart.](https://reader035.fdocuments.us/reader035/viewer/2022062408/56649f395503460f94c56b6d/html5/thumbnails/1.jpg)
10/14 Aim : Why is budgeting
important?
Do Now : Necessities & Luxuries Chart
![Page 2: 10/14 Aim : Why is budgeting important? Do Now : Necessities & Luxuries Chart.](https://reader035.fdocuments.us/reader035/viewer/2022062408/56649f395503460f94c56b6d/html5/thumbnails/2.jpg)
Budgeting
![Page 3: 10/14 Aim : Why is budgeting important? Do Now : Necessities & Luxuries Chart.](https://reader035.fdocuments.us/reader035/viewer/2022062408/56649f395503460f94c56b6d/html5/thumbnails/3.jpg)
What is a budget???
- a budget is a plan for spending and saving
Why???
- to make sure your income matches your expenses with enough left for savings or investment!!
![Page 4: 10/14 Aim : Why is budgeting important? Do Now : Necessities & Luxuries Chart.](https://reader035.fdocuments.us/reader035/viewer/2022062408/56649f395503460f94c56b6d/html5/thumbnails/4.jpg)
OK, so ….. what do I do….??• first, you need to calculate your NET
income-- the amount of money you TAKE
HOME!!
![Page 5: 10/14 Aim : Why is budgeting important? Do Now : Necessities & Luxuries Chart.](https://reader035.fdocuments.us/reader035/viewer/2022062408/56649f395503460f94c56b6d/html5/thumbnails/5.jpg)
…Then what??
• then, you need to calculate your expenses….
expenditure – the amount of
money you spent
Fixed – the same each month
Variable - changes
![Page 6: 10/14 Aim : Why is budgeting important? Do Now : Necessities & Luxuries Chart.](https://reader035.fdocuments.us/reader035/viewer/2022062408/56649f395503460f94c56b6d/html5/thumbnails/6.jpg)
…track your spending & separate “needs” from “wants”…
• necessity – an item that a person must have…such as food, clothing, shelter
• luxury – an item that offers physical comfort or enjoyment, but is not necessary for life and health
![Page 7: 10/14 Aim : Why is budgeting important? Do Now : Necessities & Luxuries Chart.](https://reader035.fdocuments.us/reader035/viewer/2022062408/56649f395503460f94c56b6d/html5/thumbnails/7.jpg)
![Page 8: 10/14 Aim : Why is budgeting important? Do Now : Necessities & Luxuries Chart.](https://reader035.fdocuments.us/reader035/viewer/2022062408/56649f395503460f94c56b6d/html5/thumbnails/8.jpg)
…now, do the math……
• …if the numbers don’t work out……..
• ……you’ve got some work to do!!!
![Page 9: 10/14 Aim : Why is budgeting important? Do Now : Necessities & Luxuries Chart.](https://reader035.fdocuments.us/reader035/viewer/2022062408/56649f395503460f94c56b6d/html5/thumbnails/9.jpg)
…by growing your income….
– or adjusting your spending…..
![Page 10: 10/14 Aim : Why is budgeting important? Do Now : Necessities & Luxuries Chart.](https://reader035.fdocuments.us/reader035/viewer/2022062408/56649f395503460f94c56b6d/html5/thumbnails/10.jpg)
….You’ve got to have a PLAN !!!!
![Page 11: 10/14 Aim : Why is budgeting important? Do Now : Necessities & Luxuries Chart.](https://reader035.fdocuments.us/reader035/viewer/2022062408/56649f395503460f94c56b6d/html5/thumbnails/11.jpg)
Figure out a budget & stick to it!!!
…yikes!!!!
-make sure you figure in savings and investing!!!
![Page 12: 10/14 Aim : Why is budgeting important? Do Now : Necessities & Luxuries Chart.](https://reader035.fdocuments.us/reader035/viewer/2022062408/56649f395503460f94c56b6d/html5/thumbnails/12.jpg)
..for those unexpected expenses…….
![Page 13: 10/14 Aim : Why is budgeting important? Do Now : Necessities & Luxuries Chart.](https://reader035.fdocuments.us/reader035/viewer/2022062408/56649f395503460f94c56b6d/html5/thumbnails/13.jpg)
…and future plans!!!
![Page 14: 10/14 Aim : Why is budgeting important? Do Now : Necessities & Luxuries Chart.](https://reader035.fdocuments.us/reader035/viewer/2022062408/56649f395503460f94c56b6d/html5/thumbnails/14.jpg)
….so…..how do I save money?Be a smart shopper……• Look for sales & compare prices• Buy generic or store brands• Use coupons
Use classified ads!• Helps consumers make decisions:• Compare goods & services wanted to buy• Use as a guideline for pricing &
advertising to sell items