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The Value of a Year – A Real Teen Budget

The Value of a Year – A Real Teen Budget.

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The Value of a Year – A Real Teen Budget

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  1. The Value of a Year – A Real Teen Budget Synopsis: Plan for an estimated 1 year monthly cost of living, including variables of expenses, income, and savings (entertainment, food, school supplies, tuition, transportation and/or car maintenance/upkeep, communication, technology/toys, credit cards, student loans, scholarships, etc.).

  2. Words You Should Know… • BudgetA list of all planned expenses and income. • IncomeAmount of money that an individual or business earns in a given period. • ExpenseSomething spent or required to be spent. • SavingsIncome not used; money set aside. Can accumulate when income is higher than expenses for an individual. • DebtMoney that is owed. Can accumulate when expenses are higher than income for a business or individual.

  3. What are Monthly Expenses? • Some expenses stay the same, month-to-month. • Some expenses change from month-to-month. Watch out!!!

  4. Plan for Your Expenses! Make a budget that accurately depicts your lifestyle. Don’t forget everyday essentials like: Rent Food Utilities (Water & Sewage) Electricity Internet & Cable TV Car payments, Insurance & Gas Cell phone coverage Credit cards (if you have one) Medical Insurance & Medicine Savings Fun Stuff (entertainment) Random Expenses that POP up!

  5. Requirements: • One 12-month budget neatly presented on a spreadsheet. • 2-3 graphic representations of your budget. • One page reflection of the assignment and your findings. • A brief class report (2-4 minutes!!!) Additional Details to follow….

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