2. A Little Quiz First
Terms Related to Money & Budgeting
Dividing your “Needs” from your “Wants”
Tools & Types of Budget Sheets
What goes in a budget sheet
Calculating Income & Expenses
More on Calculating Income & Expenses (2 &
3)
When Expenses Exceed Income (1 & 2)
Methods of Bill Paying
Tips & Tricks to save money
Q&A & Wrap-up
3. Budget Gross Income Balance
Fixed Net Income Revenue
Variable Interest Expense
Credit Accrue Charges
A Little Quiz First
4. Budget – A plan for how you will spend your money
Expense/Charge – The cost of goods and services
Income/Revenue – How much you earn or receive
Gross – How much you receive before tax deducted
Net – How much you receive AFTER tax deducted
Balance –The amount you have left.
Interest – Added costs
Fixed – Items that stay in the same price and must be
paid (i.e., RENT)
Variable – Items that differ in price and may not
always be needed
7. May Monthly Budget Sheet 2015Week of April 4, 2015
Rent
Due
Gas
Due
Light
Due
Phone
Due
Will
Pay
Water
Due
Credit
C. Due
Store
Bill
Credit
C. Due
Will
Pay
Rent Due 7th
Light Due 13th
Credit Card Due 5th
Store Bill Due 10th
Will Pay all on the 4th
8. Bills to be Paid for 4/2015 Total Budget = $696.28 $752.46
Date
Due
Current
Bills
Requested
Amounts
Paid Amt.
Date Paid
Confirmation
Numbers
Balances
Left
Fixed Expenses
• Rent
• Light
• Gas
Fixed, Variable Expenses
• Food
• Transport
• Clothing
Probable Emergency Expenses
• Health
• Lost, Stolen, Items
• other
Variable Expenses
• Movies
9. My Earnings
1. Work
2. SSI
3. Babysitting
4. Cleaning
$424.85
$252.00
$100.00
$ 80.00
$856.85
My Expenses
1. Rent $ 350.00
2. Light
3. Gas
4. Cable
$ 90.00
$ 87.50
$ 115.00
$ 642.50
Total Your Income
Total Your Expenses
Calculate the
Balance
POST IT NOTE
S 856.85
$ 642.50
$ 214.35
10. POST IT NOTE
Work = 450.00 x2= 900.00
SSDI = 375.00 = 375.00
Cleaning = 100.00 x4= + 400.00
Total Monthly Income =1,675.00
11. POST IT NOTE
Work = 450.00 x2= 900.00
SSDI = 375.00 = 375.00
Cleaning = 100.00 x4= + 400.00
Total Monthly Income =1,675.00
VISA = 300.00
Rent = 525.00
Repair = 389.50
Groceries = 250.00
Bus Fair = 60.00
Theater = 40.00
Total Monthly Expenses =1,564.50
12. POST IT NOTE
Work = 450.00 x2= 900.00
SSDI = 375.00 = 375.00
Cleaning = 100.00 x4= + 400.00
Total Income =1,675.00
VISA = 300.00
Rent = 525.00
Repair = 389.50
Groceries = 250.00
Bus Fair = 60.00
Theater = 40.00
Total Expenses =1,564.50
Total Balance =110.50
1,675.00 – 1.564.50 = 110.50
13. Have you ever heard of the phrase “Living beyond your means?”
Well this basically means that expenses you have exceed the
income you have. You are literally in debt and if you’re not
careful, you could end up bankrupt. Here’s what to do before
debt consumes you.
14.
15.
16. Advantages
• Check or Money Order
can be used
• Paper can be tracked
down if lost or stolen
Drawbacks
• Process is too slow
• Can get lost or stolen
• Loss of trees
Advantages
• Process is quick
• Can be done at any
time for most bills
• Relatively little to no
assistance needed
Drawbacks
• Extra fees may apply to
use the service
• May not recognize your
voice instructions
• May be busy or cut you off
Advantages
• Service is curteous &
friendly
• Mistakes can be
corrected on the spot
• Can gurantee payment
will be done
Drawbacks
• Waiting in line
• No parking, cold weather,
& inaccessible
• Negative treatment by
representatives
17. Advantages
• Online Banking keeps
bills in an organized
manner
• Can be done 24/7
• Can set it to
automatic bill pay on
designated dates
Drawbacks
• Process can fail due to issues
with the website
• Bank website can be hacked
• Can forget a payment was
made and accidentally
overspend
Advantages
• Direct Bill Pay Website is
easy to follow
• Can view the bill before
it’s sent by mail
• Can access 24/7
• Can set up automatic
payments
Drawbacks
• Process can fail due to issues
with the website
• Website can be hacked
• Can forget a payment was
made and accidentally
overspend, if set to auto-pay
• May take more than 2 days
before deductions appear in
your bank statement
