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Managing your money

Managing your money. Kyli Doucette, Danial Uddan,Wendy zhao and Elizabeth Salas. Key Terms. Budget - is a plan for saving and spending money based on your income and your expenses. Record keeping - organizing and maintaining records of your income and spending.

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Managing your money

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  1. Managing your money Kyli Doucette, Danial Uddan,Wendy zhao and Elizabeth Salas

  2. Key Terms Budget- is a plan for saving and spending money based on your income and your expenses. Record keeping- organizing and maintaining records of your income and spending. Get into the habit of record keeping! Financialresponsibility - accountability in money matters. Adhering to a budget will enable you to manage your money responsibly.

  3. Budgeting

  4. Why should we manage our money? • -To cover expenses  -rents, insurance, bills, and gas-To keep future safe  -children’s college, medical emergency-To cover your needs and wants  -clothes, foods, entertainment

  5. Tips on helping manage a budget • Financial responsibility will increase as you get older. It may be wise to plan for and increase in financial responsibility. • Make sure to take into account inflation or recession. Here are some ways to deal with it inflation- -Cut back on unnecessary expenses. • Look for a second job to increase income • Be a wise shopper: use coupons and shop sales.

  6. Tips for recession -Save money - If you get laid off, accept job placement help if your former employer offers it. • Plan a budget • Prioritize your needs and wants.

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