• A financial _______ for dividing up your income among saving and spending options.
- Helps you achieve _______ goals.
- Prevents financial _______.
- Types: _______, _______, yearly
- Track all of your _______ for a month.
Keep a _______ or a _______ of every penny you spend for a month.
▪ Example: Bills, eating out, clothing etc.
▪ Find ways to decrease spending
• Income: money that is _______ .
• Could be wages from _______ , public assistance, _______ , alimony or other sources.
• Total income without _______ .
• Gross income-minus _______ , _______ , _______
- The amounts that you have _______ to spend o It is easy to plan ahead because you know EXACTLY how much money is due o Examples of Fixed Expenses: _______, _______, Blank 20. .
- Amounts that you can _______ to spend or not to spend.
- You have to decide which of your options you _______ .
- Sometimes difficult to _______ .
- Examples of Variable/Flexible: _______ , _______ , _______ .
• List all of your _______.
• List some of your _______.
• _______ your needs and wants to get your total expenses.
• Write down your _______ income.
• _______ expenses from your income.
• Any money you have left will and should be your _______.