Budgeting

Essential Question:

Responsibility: Develop and maintain a budget to meet financial goals.

Critical Thinking: Evaluate and adjust spending habits to align with the 50-30-20 rule.

Learner’s Mindset: Continuously seek to improve budgeting strategies and financial planning.

What are the essential components of a personal spending plan?

How can I allocate my income according to the 50-30-20 rule?

How can I adjust my budget to ensure I am meeting my financial goals?

Understand the 50-30-20 rule and its application in budgeting..

Identify and categorize expenses into needs, wants, and savings/investments

Create a personal budget that balances needs, discretionary spending, and investments while tracking and managing expenses to stay within the budget.

Responsibility: Develop and maintain a budget to meet financial goals.

Critical Thinking: Evaluate and adjust spending habits to align with the 50-30-20 rule.

Learner’s Mindset: Continuously seek to improve budgeting strategies and financial planning.

Common Core: CCSS.Math.Content.HSF.LE.A.1 (Interpret functions that arise in applications in terms of the context)

National Standards in Financial Literacy: Standard 3: Spending and Saving

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