Keeping a Budget
a couple thoughts
• powerpoint lectures, activities,
  guided notes, old school notes,
  reading, reading guides.
• i’m wa...
objective
•understand what a budget is
 and the steps required to
 create one.
what is a budget?
•a plan about how to spend
 your money.
  – Why do you need a plan?
•give yourself limits in
 different ...
why bother to make a
budget?
1. know where your money is
   going.
2. make sure your expenses <
   income.
3. identify “pr...
how do I make a
budget?
1. track expenses to get estimates.
2. make a budget template (or use a
   pre-made one).
3. track...
what tools do I need?
•paper & pencil.
•excel (or other spreadsheet
 software).
•the “envelope system.”
what might cause a
budget to fail?
•unexpected expenses.
•sudden loss of income.
•over-ambitious goals.
budgeting tips
• pay yourself first!
• if you don’t trust yourself with
  a credit card, use only cash.
• track your expen...
want to learn more?
• internet resources
   – www.thesimpledollar.com
   – www.getrichslowly.org
• books
   – Your Money o...
20 square income
budget game
• You have an “income” of 20
  squares.
• You must place at least one square
  in each of the...
my 20 square budget
                       • transportation- 1
• housing- 4 squares
                         square
• insu...
breaking it down
• how did you decide what to
  spend your money on?
• how do your values affect your
  spending choices? ...
round 2
•your income has been
 reduced to thirteen squares.
•erase some selections (you
 may also make new
 choices).
my 13 square budget
• housing- 3 squares   • clothing- no
• insurance- 3           squares
  squares (2 auto, 1
          ...
breaking it down again
•what did you give up?
•why?
•were there any hard choices
 you had to make?
my 2008 expenses
• What do you notice about the
  summer months?
• What might change about this
  once I graduate?
• Anyth...
objective, revisited
•understand what a budget
 is and the steps required to
 create one.
•Got it?
leave the classroom
with this…
• Budgets help you to reach your
  financial goals.
• BUT, you have to do what
  works for ...
Budgets
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Budgets

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Budgets

  1. 1. Keeping a Budget
  2. 2. a couple thoughts • powerpoint lectures, activities, guided notes, old school notes, reading, reading guides. • i’m way too lenient with late work. That is going to change. • trying to spice things up-- but looking for suggestions.
  3. 3. objective •understand what a budget is and the steps required to create one.
  4. 4. what is a budget? •a plan about how to spend your money. – Why do you need a plan? •give yourself limits in different categories & then try to stick to them.
  5. 5. why bother to make a budget? 1. know where your money is going. 2. make sure your expenses < income. 3. identify “problem” areas of spending.
  6. 6. how do I make a budget? 1. track expenses to get estimates. 2. make a budget template (or use a pre-made one). 3. track income/expenses. 4. analyze results. 5. adjust expenses.
  7. 7. what tools do I need? •paper & pencil. •excel (or other spreadsheet software). •the “envelope system.”
  8. 8. what might cause a budget to fail? •unexpected expenses. •sudden loss of income. •over-ambitious goals.
  9. 9. budgeting tips • pay yourself first! • if you don’t trust yourself with a credit card, use only cash. • track your expenses. • expenses must be less than income for sustainable lifestyle.
  10. 10. want to learn more? • internet resources – www.thesimpledollar.com – www.getrichslowly.org • books – Your Money or Your Life – The Total Money Makeover
  11. 11. 20 square income budget game • You have an “income” of 20 squares. • You must place at least one square in each of the starred categories first (required expenses). • Use the rest of your squares to finish your budget. • Be prepared to share.
  12. 12. my 20 square budget • transportation- 1 • housing- 4 squares square • insurance- 4 • clothing- 1 square squares (2 auto, 2 (laundry) health) • savings- 4 squares • furnishings- 1 • communication- 2 square squares • food- 2 squares • personal care- 1 square
  13. 13. breaking it down • how did you decide what to spend your money on? • how do your values affect your spending choices? Your goals? Your past experiences? • learn anything about yourself?
  14. 14. round 2 •your income has been reduced to thirteen squares. •erase some selections (you may also make new choices).
  15. 15. my 13 square budget • housing- 3 squares • clothing- no • insurance- 3 squares squares (2 auto, 1 • savings- 1 square health) • communication- 2 • furniture- no squares squares • personal care- 1 • food- 2 squares square • transportation- 1 square
  16. 16. breaking it down again •what did you give up? •why? •were there any hard choices you had to make?
  17. 17. my 2008 expenses • What do you notice about the summer months? • What might change about this once I graduate? • Anything cost more than you expect?
  18. 18. objective, revisited •understand what a budget is and the steps required to create one. •Got it?
  19. 19. leave the classroom with this… • Budgets help you to reach your financial goals. • BUT, you have to do what works for you. • A budget is worthless if you don’t stick to it, so make it reasonable.

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