Budgeting

Budgeting

• The importance of budgeting.
• Ways of budgeting.

• Saving money.

'A budget is telling your money where to go instead of wondering where it went.'

- Dave Ramsey, personal finance expert.

The Importance of Budgeting

Budget Balloons

• You have a budget of £2500 for the month.
• Pop the balloons to discover your expenses.
• One team member should note each expense and add them up.
• Can your expenses be within your budget?

Essential and Non-Essential Items

Income vs Expenditure

• In pairs, please complete the income vs expenditure task.
• Scan the QR Codes to find 3 sources of income and 5 expenses.
• You can choose your outgoings, but the cost will have to match your income limit!

Zero-Based Budgeting

Budgeting Ideas

Pay Yourself First

Weekly Allowance

50/30/20 Rule

Expense Tracking

Envelope System

Budget Example

Here is an example of a simple monthly budget.

TotalTotal Income - Total Expenses = Spare Money £210 - £180 = £30

Budget Your Year

• Please complete your yearly budget.
• How can you save for any big expenses?

Further Information

Budgeting

• The importance of budgeting.
• Ways of budgeting.

• Saving money.