1. Introduction to Budgeting

2. ICE BREAKER! What is your earliest money memory?
These early experiences can shape your money behaviors as an adult.

3. Show of hands! How many have created a budget in the past?

4. Show of hands! How many of you have STUCK to your budget?

5. The Importance of a Budget: Looking to Your Future
Nearly 70% of consumers live paycheck to paycheck
68% of Americans could not cover a $5,000 emergency without having to go into debt for it
55% of Americans “always” or “sometimes” worry about their money
Nearly 30% of Americans spent more time watching reality TV last month than they spent planning and preparing for retirement over the past 10 years
Habits you form now will affect the rest of your life

6. As You Begin the Budget Journey
Take responsibility for your money:
Spend money wisely
You are accountable for your choices
Get help
Behavior matters—become mindful:
Practice financial self-awareness
Observe thoughts, feelings, and behavior
Watch yourself and others and be honest
Beware the 24-hour marketplace

7. Budgeting Rewards
Ability to maintain or improve your standard of living
Controlled spending allows you to live well today and tomorrow
Accumulate wealth—Remember, whatever your income, you can spend it or save it
Hope of avoiding much of the havoc that money problems wreak on your personal life—Conflict over money is the leading cause of divorce

8. What is Your Biggest Obstacle to Sticking to a Budget?
Little things adding up
Impulse purchases (coffee, clothes)
Not knowing how to start a budget
Having trouble creating a budget that adequately reflects all of my expenses, debts, etc.
Monitoring spending/tracking expenditures
Unexpected expenses—friends want to eat out, etc.
Not having a clear food budget
Feeling overconfident in my current spending habits
Not actually taking the time to make one
Problem being able to say “no” to things that don’t fit my budget

9. Budgeting 101 1 2 3 4 Develop a plan Keep it simple & realistic!
Make a list of all sources of income
Make a list of all anticipated expenses 3
Identify shortfalls
Do you have a Plan B for emergencies? 4
Implement plan!
Revisit and revise quarterly

10. Based on recent survey results:
Expense
Average Spent Per Month
Rent (with avg. of 1-2 roommates)
$1,000
Utilities
$125
Laundry/Dry Cleaning
$16
Groceries/Eating Out
$342
Clothing
$40
Toiletries/Personal Care
$33
Monthly Credit Card
$63
Entertainment
$60
Other
$44
Total
$1723

11. Traditional Budget Plan

12. Don’t Have Too Much Month Left at the End of Your Money!
Clip coupons to save money on groceries
Carpool or use public transportation
Buy clothes at end-of-season sales
Buy generic brands rather than name brands products
Buy non-perishable items in bulk
Cut out the daily latte or frequent dining out
The 30 Minute Rule: If you see something you “have to have,” wait 30 minutes, then if you still can’t live without it—make the purchase.

13. Entertainment Take advantage of happy hour food specials
Use Groupon/LivingSocial/GiltCity for events and entertainment
Public Library for movies, museum passes, tourist site tours, and more with membership
AMC Loews Common 19
ZipCars- it’s like a rental
Seek out free or cheap events online

14. I’m not the only expert here…
Let’s help each other! What tricks do you use to save money?