2 You Will Know The concept of budgeting The benefits of budgeting How to use a budgeting tool.

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Presentation transcript:

2 You Will Know The concept of budgeting The benefits of budgeting How to use a budgeting tool

3 Budget A step-by-step plan for meeting expenses in a given period of time

4 Benefits of Budgeting Reduces money-related anxiety Gives you control of your financial situation Helps you build assets and improve your quality of life

5 Daily Spending Diary

6 Income and Expenses Worksheet

7 Social Security Benefits Retirement coverage Disability coverage Family coverage Survivors coverage Medicare benefits

8 Recordkeeping Tips Keep information in a safe place Keep your files organized Keep records for at least three years Send your bill payments before they are due

9 Monthly Payment Schedule

10 Monthly Payment Calendar

11 Loan Payment Decisions Pay off loans with the highest interest rates Talk to your creditor Consider debt consolidation Get professional advice