G.59 Prepare a short- and long-term budget

After mastering G.59, your students should be able to answer the following questions:

• Why should you develop a budget?
• What are some benefits of budgeting?
• What are some common misconceptions about budgeting?
• When should you start budgeting?
• What are some important considerations when selecting a budgeting system?
• What are some common budgeting systems?
• What is the difference between a short-term and long-term budget?
• What is APR?
• What are the two purposes of a savings account?
• What are some tips for managing your money?