1. WHAT SHOULD YOU KNOW ABOUT BUDGETING?

2. WHAT IS A BUDGET
BUDGET
A FORMAL, WRITTEN STATEMENT OR EXPECTED INCOME AND EXPENSES FOR A FUTURE PERIOD OF TIME
A PLAN FOR USING MONEY TO MEET WANTS AND NEEDS

3. WHO BUDGETS
Consumers
Businesses
Government

4. BUDGETING PROVIDES A WAY OF CONTROLLING EXPENSES AND DEBT
HELPS CONSUMERS PLAN AHEAD AND TO CHOOSE SPENDING GOALS
ALLOWS CONSUMERS TO DECIDE HOW MUCH OF THEIR INCOME TO USE FOR DAILY, WEEKLY, AND MONTHLY EXPENSES

5. PREPARING A PERSONAL BUDGET
FOR INSTANCE, MILK, EGGS, AND BREAD WOULD BE CATEGORIZED AS GROCERIES.

6. CREATING A PERSONAL BUDGET
CATEGORIES YOU MIGHT USE:
RENT
GROCERIES
ENTERTAINMENT
UTILITIES
SAVINGS
MISCELLANEOUS
TAXES
CLOTHING

7. A PERSONAL BUDGET DISTINGUISH BETWEEN FIXED AND VARIABLE EXPENSES.
FIXED EXPENSES DO NOT VARY FROM MONTH TO MONTH.
VARIABLE EXPENSES ARE EXPENSES THAT CHANGE FROM MONTH TO MONTH, SUCH AS FOOD AND CLOTHING.

8. PREPARING A PERSONAL BUDGET
ONCE YOU HAVE DETERMINED YOUR MONTHLY EARNINGS AND WHAT YOU SPEND YOUR MONEY ON, YOU ARE READY TO PREPARE YOUR PERSONAL BUDGET.

9. BUDGETING SUCCESSFULLY
A GOOD BUDGET IS CARFULLY PLANNED
A GOOD BUDGET IS PRACTICAL
A GOOD BUDGET IS FLEXIBLE
A GOOD BUDGET MUST BE WRITTEN AND EASILY ACCESSIBLE