1. Budgeting and Saving By Mr. Brown
Personal Finance
Budgeting and Saving
By Mr. Brown

2. Topics What is a budget? What are expenses vs. income? What is debt?
How to budget?
How should I allocate funds and save?

3. What is a Budget?
A budget is a plan for how you want to use your income.
It should be flexible
It should be realistic
You should check it every month

4. Expense vs. income Expense: goods or services you pay for
Not a bad thing
Must be monitored
Income: money earned as a result of your labor

5. Debt
Debt: money borrowed (credit) such as a loan, mortgage, credit card balances
Don’t confuse debt with debit: debit is an accounting term used to mean removed from account.
Debt is not necessarily bad.

6. How to Budget & Save https://www.youtube.com/watch?v=DSxiwibaxoo
Budget
Saving

7. Allocation Allocation: how you break up your money
First look at your fixed expenses: Rent, Car Payment, Insurance
Then look at most common variable expenses: gas, ultilities, groceries
Next look at savings you want to have: IRA, savings account
Then look at luxuries: entertainment, eating out, party fund, etc.