1. Budgeting

2. Video
10 minutes

3. Cashflow Planning
Understand that money is active. It is constantly moving.
Because of that it is important to have a cash flow plan.
Cash flow planning allows you to be intentional with your saving and your spending.
Many people see budgeting as restrictive and ineffective.
Where do you stand on budgeting and why? Do your parents budget?

4. Basic Banking Smartphone budgeting
Balancing a checkbook (See handout and review)
Banking institutions
Commercial banks
Brokerage firms
Credit unions
Savings and loans
Accounting firms
Insurance companies

5. Banking/Budgeting Terms
Budget-A written cash flow plan
Cash Flow Statements-A summary that shows total income and spending for a given time period
Carbon Check-A copy of each check you write (often digital)
Impulse Purchase- An item that is bought without previous planning or consideration of the long term effects
Overdraft-Occurs when money is withdrawn from a bank account and the available balance goes below zero
Reconcile-To match your bank statement with your checkbook
Zero-Based Budget-A cash flow plan that assigns an expense to every dollar of your income, wherein the total income minus the total expenses equals zero

6. Activity The Student Budget
(define a zero based budget) May use foundationsU.com for more copies of budget