Download
budgeting n.
Skip this Video
Loading SlideShow in 5 Seconds..
Budgeting PowerPoint Presentation

Budgeting

123 Views Download Presentation
Download Presentation

Budgeting

- - - - - - - - - - - - - - - - - - - - - - - - - - - E N D - - - - - - - - - - - - - - - - - - - - - - - - - - -
Presentation Transcript

  1. Budgeting Personal Finance

  2. Spending Plan Guide What variables may cause these percentages to be different?

  3. Spending Plan Development Process Step 1 - Track Current Income and Expense Step 5 - Evaluate and Make Adjustments Develop the spending plan Maintain the spending plan Step 4 - Implement and Control Step 2 - Personalize Your Spending Plan Step 3 - Allocate Money to Each Category

  4. Housing (Renting and Owning)

  5. Housing: Largest Expense for Most Choose housing that fits your personal needs and spending plan

  6. What are common rental expenses? The cost of housing is more than rent!

  7. What initial expenses may be required to rent a property? One or both expenses may be required:

  8. Significant Initial Home Loan Expenses

  9. Mortgage Payment A payment to pay off the loan used to purchase housing

  10. What are typical home ownership expenses? Housing expenses are more than a mortgage!

  11. Transportation

  12. Do Your Research! You are responsible for yourself! Advance research will maximize your satisfaction with the purchase!

  13. What are typical automobile ownership expenses? Before purchasing a vehicle, be sure you can afford the total cost of ownership

  14. Marina’s Out-of-Pocket Expenses Marina purchased a 2013 Honda Accord Marina’s monthly loan is $347.09, but on average, the car will cost her, $670.46 per month to own! Source: bankrate.com Source: kbb.com

  15. What features would you look for in an automobile?

  16. Food

  17. Two Primary Sources Prepare Food at Home Least Expensive Food Away from Home Most Expensive

  18. Burger Night - Family of Four Food Away From Home Food Prepared at Home McDonalds Quarter Pounder with Cheese Combo Meal Burger with bun, condiments, 5lb bag of potatoes (for fries) and a 12 pack of Coke The meal prepared at home is less expensive and will result in left-overs What are ways to reduce the cost for either option?

  19. Summary

  20. What else to think about? • Electricity • Water • Gas • Phone • Sewer/Trash • Cable • Groceries and Necessities • Clothing • Cleaning/Laundry • Health Costs • Insurance • Recreation • Gas • Credit Cards • Student Loans • Savings • Blow Money

  21. What % are you spending?