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Budget: A financial plan
Budget: A financial plan
Is a financial plan important?
Is a financial plan important?
Discussion #008b: Using your experience in life so far,Discuss how a plan for how to spend and save your money is important. Use your experience to guide your discussion. Can a plan help you avoid unnecessary expenses? Does a financial plan act as a guide to lead to your comfortable future? Have you ever spent money impulsively and regretted your decision?
Discussion #008b: Using your experience in life so far,Discuss how a plan for how to spend and save your money is important. Use your experience to guide your discussion. Can a plan help you avoid unnecessary expenses? Does a financial plan act as a guide to lead to your comfortable future? Have you ever spent money impulsively and regretted your decision?
Successful Budgeting Step #1: Divide your expenses into these categories.
Successful Budgeting Step #1: Divide your expenses into these categories.
1. Fixed Expenses
1. Fixed Expenses
2. Flexible Expenses
2. Flexible Expenses
3. Discretionary Expenses.
3. Discretionary Expenses.
Budget Categories:
Budget Categories:
1. Fixed expenses: Rent, Car payment, Insurance payment.
1. Fixed expenses: Rent, Car payment, Insurance payment.
2. Flexible expenses. These change month to month; Food or Gasoline.
2. Flexible expenses. These change month to month; Food or Gasoline.
3. Discretionary Expenses: Money you choose to spend. Movies, pizza with friends, etc. Includes money saved.
3. Discretionary Expenses: Money you choose to spend. Movies, pizza with friends, etc. Includes money saved.
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