Budgeting.

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Presentation transcript:

Budgeting

Steps for preparing Estimate your income Decide how much you want to save Estimate your expenses Balance your budget IF YOUR EXPENSES PLUS YOUR SAVINGS IS MORE THAN YOUR INCOME, ADJUST YOUR PLAN TO MAKE THEM BALANCE!

bUDGETING When spending your money your budget can be divided into 2 categories. 1. Fixed expenses 2. Variable expenses

Fixed expenses Costs you are obligated to pay at specific times regardless of other events.. RENT, UTILITY BILL, INSURANCE Must pay them when they are due, no matter what!

Variable expenses Costs vary in amount or type depending on events and choices you make GROCERIES, MOVIES, CLOTHES, DONATIONS