The first part of personal finance is budgeting. Budgeting is important because it ensures that you will always have enough money for the things you need and the things that are important to you. The first part of creating an efficient budget is identifyi...
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Guiding questions:
- What are your goals?
- How will you stay on track?
- How much do you need to save?
- What are expenses?
- How can you account for unexpected expenses?
Content:
- Budgeting “rules”
- 50-30-20
- 70-20-10
- 60-30-10
- Needs vs wants
Objective:
- Prioritizing expenses
- Planning
Vocabulary:
- Assets
- Expenses
- Income
- Liability
- Net
- Surplus
Activity:
http://playspent.org - simulation game
https://playmoneymagic.com/game/start - other game
Additional resources:
Personal budgeting template: https://tinyurl.com/fp99t97v - google sheet
Downloadable Slideshow: