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Budgeting: Making the most of your money

FYI: 60% of millionaires use a budget to manage their money. Budgeting: Making the most of your money. ?. Sample Household Budget. …Helps you determine where you are spending your money currently. …Helps you decide where to spend your money in the future.

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Budgeting: Making the most of your money

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  1. FYI: 60% of millionaires use a budget to manage their money Budgeting: Making the most of your money

  2. ?

  3. Sample Household Budget

  4. …Helps you determine where you are spending your money currently. …Helps you decide where to spend your money in the future. …You have an organized way to save for things that cost more. …Puts you in control of your financial future, beginning NOW. Reasons for a Spending Plan:

  5. …Are less likely to know what they have. …Have no plan, often coming up short before their next paycheck or allowance. …Are almost certain to have no plan to save for more expensive spending goals. People Without a Budget…

  6. Does it makes sense to create and live within a budget when you don’t have a lot of money? What if you find that you are consistently spending more in one area than you had planned to? What if you find that you can’t live within your budget? Questions:

  7. PAY YOUR$ELF FIRST! S etting aside money for “big ticket items” A voids borrowing, which costs you a lot! It’s a V ery wise thing to do, because E very time you pay yourself first, you are developing a saving habit that leaves you with more money to spend later on for things that are really important to you!

  8. Personal Plan for One Week

  9. Decide on a time frame for tracking expenses (week, two weeks, month). List all money you have coming in (income). Make categories for all expenses. Subtract total expenses from income. Study your budget and your financial plan to make sure it fits with your plans and goals. How to Build a Budget

  10. Build a Budget Answer Key

  11. BUDGETING: Making the Most of Your Money Questions???

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