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Paychecks and budgets

Learn to decipher your paycheck, understand various deductions, categorize spending, and implement a sound budgeting strategy to build financial stability. This comprehensive guide covers key money management concepts to help you achieve your financial goals.

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Paychecks and budgets

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  1. Money 101 | finance-lectures.com Paychecks and budgets Daniel Folkinshteyn, PhD http://finance-lectures.com/ personal@finance-lectures.com

  2. Money 101 | finance-lectures.com Learning objectives • Describe major items on a paycheck • Classify types of paycheck deductions • Identify major spending categories • Explain the basic budgeting process

  3. Money 101 | finance-lectures.com Money flows Inflows -Outflows =Surplus/shortfall

  4. Money 101 | finance-lectures.com Sample paycheck

  5. Money 101 | finance-lectures.com Spending Bureau of Labor Statistics, Consumer Expenditure Survey http://www.bls.gov/cex/csxcombined.htm http://www.bls.gov/cex/2013/combined/income.pdf http://www.bls.gov/cex/csxgloss.htm

  6. Money 101 | finance-lectures.com Quiz 1 If you are saving 10% of your after-tax income, how many years will it take you to save up for one year's worth of expenses? saving spending

  7. Money 101 | finance-lectures.com Effective budgeting • Gather information • Create a written budget • Cut discretionary expenses • Stay organized • Review and revise

  8. Money 101 | finance-lectures.com Additional reading • Financial Literacy and Education Commission • Budgeting worksheets and planning tools: • http://www.mymoney.gov/tools/Pages/tools.aspx

  9. Money 101 | finance-lectures.com Attributions • All images, unless otherwise noted, are sourced from pixabay.com or Wikimedia Commons, and are licensed under CC0, public domain.

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