BUDGETING BUDGET • PLAN FOR USING MONEY IN A WAY THAT BEST MEET YOUR WANTS AND NEEDS Where does your money go? Keep track of everything spent • What did you buy? • Can you see a pattern in your spending? • What did you need? • What did you want? How did you spend your money? • Categorize how your money was spent • * clothing • * food • Name areas that you might us in the future What a budget does for you: • Helps you decide what you can and cannot afford • Enable you to keep track of your money • Helps create a savings plan What a budget does for you: • Puts you in control • Helps you create a visual spending picture • Helps you prevent impulse buying Setting up • Estimate your income • Estimate your expenses • Estimate your future expenses • Cope with change Setting up • Keep your personal and financial goals in mind • Balance your budget • Practice setting up budgets Maintaining • Learn how to get the most for your money • Try not to indulge in unnecessary spending • Learn how to maintain a workable budget • Evaluate your budget regularly.