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Personal Budgets

Personal Budgets. In This Chapter:. -How to keep Financial Records. -How to create a personal budget. -How to balance a budget. -How to analyze a budget. What is a budget?. A method of keeping track of your . What $$ do you need to keep track of?. Income. Expenses.

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Personal Budgets

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  1. Personal Budgets

  2. In This Chapter: -How to keep Financial Records -How to create a personal budget -How to balance a budget -How to analyze a budget

  3. What is a budget?

  4. A method of keeping track of your

  5. What $$ do you need to keep track of?

  6. Income

  7. Expenses

  8. $$ that comes in and $$ that goes out

  9. How to you start a budget?

  10. Start by asking

  11. What are some examples of questions that should be asked?

  12. 1.What is my income? Gross vs. Net

  13. 2.What are my Expenses?

  14. Make a list of your MONTHLYexpenses

  15. What are monthly expenses?

  16. List as many expenses as you can think of

  17. -Phone -Cable -Rent -Hydro -Internet -Transportation -Groceries -Entertainment

  18. Some Expenses that you didn’t think of…

  19. -Furnishings -Medical -Moving expenses -Insurance – auto/personal -Laundry -Long Distance Calls -Banking fees -Vehicle Maintenance

  20. A budget Organizes this information

  21. How would you organize your income/expenses?

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