1. Budgets

2. Components (parts) of a budget:
Income – amount of money you earn
Expenses – amount of money you spend
Examples of expenses:
planned savings for college, retirement, emergencies, utilities, taxes
Goal of a budget – spend no more than you earn, and save some additional money if possible

5. Fixed Expense – amount doesn’t change Variable Expense – amount changes from month to month

7. A budget is many times shown in a circle graph
A budget is many times shown in a circle graph. It’s easy to see how much money is allocated to each expense

8. =

9. During a storm, lightning strikes a large tree in the back yard
During a storm, lightning strikes a large tree in the back yard. The tree needs to be removed and it will cost $500. Is there enough money budgeted in the allotted emergency fund?
If not, how much more money will they need and how could they find the money for it?

11. $3518
$3743
2708/160 = $17
3743/160=$23