| Budgeting to Stretch Dollars | What is a budget? - A plan for spending money Why have a budget? - To help control your spending. - To help prevent impulse buying. - To help your goals become a reality. - To provide protection against financial emergencies. | |
|---|---|---|
| Income: | Earnings | _____________ |
| Allowances | _____________ | |
| Gifts/Other | _____________ | |
| Total Income | _____________ | |
| Expenses: | Money NEEDED For: | |
| - School | _____________ | |
| - Transportation | _____________ | |
| - Other | _____________ | |
| Money WANTED For: | ||
| - Clothing | _____________ | |
| - Entertainment | _____________ | |
| - Personal | _____________ | |
| - Other | _____________ | |
| Money to SAVE For: | ||
| Total Expenses: | _____________ | |
| Money Available for Credit: | Total Income | _____________ |
| Minus | ||
| Total Expenses | _____________ | |
| Credit Allowance | _____________ | |
| Clearing the Way for Savings | Does your income have a limit? Do your "wants" exceed your "needs?" What changes can you make in your budget to save for the things you want? How much can you save each week 5%-10% of your income? How long will you have to save to reach your goals? | |
| Weekly Savings [Without Interest] |
Three Months |
Six Months |
One Year |
Three Years |
| $5 | Sneakers | CD Player | TV | Computer |
| $10 |
Radio |
Two day Vacation |
Stereo |
20% Down Payment on $7000 Car |
Buy yourself a car || Save for the future || Balance a checkbook
Build good credit || How to use debit cards/atms
Teen Home || Money Matters || Topics Around the World || Education
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www.ndcu.org/fit/money/saving.htm