KEEPING YOUR BALANCE 1 KEEPING YOUR BALANCE WHAT
KEEPING YOUR BALANCE 1
KEEPING YOUR BALANCE �WHAT IS A BUDGET? 2
KEEPING YOUR BALANCE �WHAT IS A BUDGET? �BUDGET: A SPENDING PLAN THAT COVERS A SPECIFIC PERIOD OF TIME 3
KEEPING YOUR BALANCE ESTABLISHING A BALANCED BUDGET CAN HELP YOU TO ACHIEVE YOUR GOALS! 6
KEEPING YOUR BALANCE � THE GOAL OF GOOD MONEY MANAGEMENT ◦ BUDGET MONEY TO COVER THINGS WE NEED: �HOUSING �FOOD �CLOTHING, ETC. ◦ SAVE FOR THE THINGS WE WANT: �VACATIONS �SPORTS CAR �DESIGNER CLOTHING, ETC. 7
KEEPING YOUR BALANCE � BUYING EVERYTHING WE “WANT” MAKES IT HARD OR IMPOSSIBLE TO PAY OUR BILLS ◦ REGARDLESS OF HIGH OR LOW PAYING JOB ◦ NEED TO “BALANCE” YOUR SPENDING BETWEEN NEEDS AND WANTS. ◦ THE REASON TO PREPARE AND FOLLOW A “BALANCED BUDGET” 8
KEEPING YOUR BALANCE � CREATING A BALANCED BUDGET MEANS SPENDING LESS THAN YOU EARN AND…… � SPENDING APPROPRIATE AMOUNTS IN CERTAIN CATEGORIES LIKE: ◦ ◦ ◦ ◦ HOUSING FOOD CLOTHING TRANSPORTATION ENTERTAINMENT CHARITY, and SAVINGS! 9
KEEPING YOUR BALANCE BUDGETING EXERCISE 10
KEEPING YOUR BALANCE � HOW DID YOUR INCOME AFFECT YOUR BUDGET CHOICES? � HOW WOULD ADDING FAMILY MEMBERS AFFECT YOUR BUDGET? ◦ WHAT ADDITIONALS COSTS OR CATEGORIES WOULD YOU NEED? 11
KEEPING YOUR BALANCE INCOME LEVELS / OCCUPATIONS / EDUCATION 12
KEEPING YOUR BALANCE WHAT CAREER PATH WILL YOU CHOOSE? DOES YOUR CAREER CHOICE MATCH YOUR INTERESTS AND TALENTS? WILL YOUR OCCUPATION PROVIDE THE INCOME NEEDED TO MEET YOUR LIFESTYLE EXPECTATIONS? L? O O TES CH A S I C H E? O G G I S ? H TE LE AS GREE A L DU L CO DE A GR HOO SC WHAT LEVEL OF EDUCATION IS REQUIRED? 13
KEEPING YOUR BALANCE THE CHOICE IS YOURS!!!! 14
KEEPING YOUR BALANCE � QUESTIONS? ? � KEEP AND REVIEW HANDOUT ◦ READ ABOUT GROSS VS. NET PAY (Pg. 1) ◦ LEARN ABOUT HOW INCOME IS TAXED (Pg. 3) ◦ CREATE YOUR OWN BUDGET (Pg. 4) � LEAVE OCCUPATION CARDS AND BUDGET PERCENTAGE WORKSHEETS ON YOUR DESK 15
KEEPING YOUR BALANCE THANK YOU! 16
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