B101 slideshow

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B101 slideshow

  1. 1. Credit.org Springboard BUDGETING 101 Springboard FIT Academy
  2. 2. Start right now
  3. 3. Borrowing
  4. 4. Use cash, not credit
  5. 5. Relax
  6. 6. Credit.org Springboard Part 2 Budgeting 101
  7. 7. Track your spending
  8. 8. Track everything
  9. 9. Spending categories
  10. 10. Spending categories
  11. 11. Spending categories
  12. 12. Spending categories
  13. 13. Spending categories
  14. 14. Credit.org Springboard BUDGETING 101 Springboard FIT Academy
  15. 15. Credit.org Springboard Part 3 Budgeting 101
  16. 16. Calculate your income
  17. 17. Paycheck planning
  18. 18. Monthly Income Source Job Spouse’s Job Part-Time Job Rental, Room & Board Received Commissions, Bonuses Tax Refund Government Benefits Child Support/Alimony Support from Family/Friends Personal Loans Collected Other Total Monthly Income
  19. 19. GARAGE SALE
  20. 20. For Sale
  21. 21. $
  22. 22. Credit.org Springboard Part 4 Budgeting 101
  23. 23. Setting Goals
  24. 24. x
  25. 25. Short-term
  26. 26. Mid-term
  27. 27. Long-term
  28. 28. Financial Goal Amount Needed Target Date # of Pay Periods Until Due Date Savings Needed Per Pay Period A new car $14,400 36 months 72 $200
  29. 29. Financial Goal Amount Needed Target Date # of Pay Periods Until Due Date Savings Needed Per Pay Period A new car $14,400 48 months 96 $150
  30. 30. Credit.org Springboard Part 5 Budgeting 101
  31. 31. Add it up Total expenses Debt payments Goals Total monthly expenses: + + =
  32. 32. Balance Total monthly income Total monthly expenses Balance (x/-) - =
  33. 33. Necessary Expenses Current Proposed Housing Rent/Mortgage 2nd Mortgage Property Taxes Insurance HOA Dues Gas/Electricity Water/Sewer/Trash Telephone Food Groceries Dining Out At work/school Insurance Life Health/Dental Disability Medical Care Doctor Optometrist/Lenses Dental Prescriptions Transportation Car Payment 1 Car Payment 2 Insurance Gas/oil Repairs DMV/Smog Tolls/Parking Public Transportation Child Care Daycare/Sitting Child Support/Alimony Miscellaneous Banking Fees Laundry Other Income Taxes Prior Year Estimated Tax Payments Savings Emergency Goals Total Essential Expenses Necessary expenses
  34. 34. Discretionary Expenses Current Proposed Personal Beauty/Barber Clothing/Jewelry Cosmetics Manicure/Other Entertainment Cable Movie/Video Dining Out Sports/Hobbies/Clubs Vacations/Travel Books/Magazines MP3/Concerts Miscellaneous Pet Care/Vet Gifts Cell Phone Postage Cigarettes/Alcohol Donations/Tithing Internet Access Other Total Discretionary Expenses: Discretionary expenses
  35. 35. How your spending should look
  36. 36. 35- 45%
  37. 37. 15%-25%
  38. 38. 8%-15%
  39. 39. 10%-20%
  40. 40. 8%-15%
  41. 41. 3%-5%
  42. 42. 5%-10%
  43. 43. 5%-10%
  44. 44. 10%-20%
  45. 45. ASSOC IATION OF INDEPE NDENT CONSUMER CREDIT COUNSELIN G AGENCIES NAT IONAL HOUS ING COUNS ELING ASSOC IATION TM BBB™ HUD Approved About us Contact Us: 800.431.8456 Email: education@credit.org Twitter: www.twitter.com/CreditDotOrg Facebook: http://www.facebook.com/CreditDotOrg
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