Personal Finance – Chapter 7 Budgeting 101
1. Money is ________________.
2. You must do a written ________________ ________________ plan every ________________.
3. You must also keep your checkbook ________________.
4. ________________ are a sign of crisis living and sloppy, lazy ________________ habits.
5. Use ________________ checks if necessary.
6. If not managed and made to behave, the ________________ card and the ________________
card are certain to become budget busters.
7. Reasons we don’t do a cash flow plan.
a. Most people hate the word budget for four reasons:
i. It has a ________________ ________________ connotation.
ii. It have been used to ________________ them.
iii. They’ve never had a budget that ________________.
iv. Paralysis from ________________ of what they will find.
b. Cash flow plans do not work when you:
i. ________________ things ________________.
ii. ________________ your plan.
iii. Don’t actually ________________ ________________.
iv. Don’t actually ________________ on it.
8. Reasons we should do a cash flow plan.
a. A written plan removes the “management by ________________” from your finances.
b. ________________ money goes further.
c. A written plan, if actually lived and agreed on, will remove many of the
________________ ________________ from your marriage.
d. A written plan, if actually lived and agreed on, will remove much of the
________________ ________________ , and ________________ that may be part of
buying necessities such as food and clothing.
e. A written plan, if actually lived and agreed on, will remove many of the
________________ from your life, consequently removing a lot of ________________.
f. A written plan, if actually lived and agreed on, will show if you are ________________
on a certain area.
On average, I spend $_________ a week.
My three biggest expenses are:
The easiest way for me to improve upon my spending habits (do a better job budgeting) would be to: