1. Budgeting Part II

2. What We’ve Learned Goals – Short-term goals – Long-term goals – Intermediate goals Wants vs. Needs

3. Budgeting Basics Income (Revenue) Expenses Net Income

4. Income How Do You Earn Money? – Allowance – Helping family and neighbors – Special events – Other

5. How Do You Earn Money? Allowance Extra jobs around the house Helping neighbors Special events

6. Expenses Fixed expenses – A fixed expense is something that has a fixed cost, it doesn’t change each month Variable expenses – A variable expense is an unknown expense, or something you’re not able to put a fixed amount on. The costs may go up and down each month.

7. ACTIVITY TIME!!! WHAT ARE FIXED & VARIABLE EXPENSES?

8. Budgeting Math Income – Expenses Savings What you pay yourself are your savings.

9. Budgeting Math What you pay yourself – Short-term savings goals – Long-term savings goal – Charitable contributions – Emergency fund

10. Keeping your savings straight – Checking accounts – Savings accounts – CDs – Stocks and Money Market Funds Budgeting Math

11. It’s an emergency! When should you take money out of the emergency fund? Budgeting Math

12. ACTIVITY TIME!!! MAKE A MATCH

13. Whoo Hoo! I have some extra cash! – Spending Options A special treat A donation to charity – Savings Options Short-term/long-term savings goals Emergency fund – A combination of the two Budgeting Math

14. A budget is not about how much you make, it’s about how much you save and spend. Save wisely and you will meet your financial goals. Budgeting

15. Questions?