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Budgeting

Budgeting. “We don’t plan to FAIL, we FAIL to plan”. Budget. http://www.fanpop.com/spots/the-cosby-show/videos/759144/title/season-1-episode-1-pilot-presentation. Budgeting. Starter activity: Student/Client exercise history and profile quiz Reflection on results. Plan your budget.

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Budgeting

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  1. Budgeting “We don’t plan to FAIL, we FAIL to plan”

  2. Budget • http://www.fanpop.com/spots/the-cosby-show/videos/759144/title/season-1-episode-1-pilot-presentation

  3. Budgeting • Starter activity: • Student/Client exercise history and profile quiz • Reflection on results

  4. Plan your budget • Liabilities • Monthly expenses • Taxes • Savings • Discretionary Income • Left over each month or negative income

  5. Budget • Discretionary (variable) expenses • Cell phone • Groceries • Clothing • Travel • Dining out • Entertainment • Pets • Car maintenance • Utilities • Fixed expenses • Mortgage or rent • Auto loans • Insurance payments • School loans

  6. CASH RESERVES 3-6 MONTHS OF LIVING EXPENSES

  7. SMART GOALS • Goal setting for your budget is driven by your discretionary income. • Specific – Identify goal • Measurable – time you have to achieve the money you will need • Achievable • Reasonable – can you save this much per month • Time bound – short, intermediate or long term

  8. Budgeting Activity http://www.jumpstart.org/reality-check.html

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