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Lesson 1ABC’s to Budgeting
Lesson1Lesson 1-
ABC’s to Budgeting
OBJECTIVES
Understanding the Concepts Behind Budgeting
How to Create a Household Budget
The 3-Step Approach to Budgeting
Short Exercise
Homework
Related Posts
Terms to Know:
Budget Cash inflowsCash outflowsDiscretionaryNondiscretionary
1
Lesson1Lesson 1-
ABCs to Budgeting
OBJECTIVES
Understanding the Concepts Behind Budgeting
How to Create a Household Budget
The 3-Step Approach to Budgeting
Short Exercise
Homework
Related Posts
Terms to Know:
Net cash flowNet cash deficit 401 (k) plansIndividual retirement
accountsEmergency funds
2
Lesson1Lesson 1-
ABCs to Budgeting
OBJECTIVES
Understanding the Concepts Behind Budgeting
How to Create a Household Budget
The 3-Step Approach to Budgeting
Short Exercise
Homework
Related Posts
To create a budget…
Gather financial recordsOrganize the financial
documentsUtilize a budget templateMonitor expensesReview and eliminate
expenses (Amend your budget)
3
Lesson1Lesson 1-
ABCs to Budgeting
OBJECTIVES
Understanding the Concepts Behind Budgeting
How to Create a Household Budget
The 3-Step Approach to Budgeting
Short Exercise
Homework
Related Posts
A – Automate savings
B – Bill management
C- Cash for everything else
4
Lesson1Lesson 1-
ABCs to Budgeting
OBJECTIVES
Understanding the Concepts Behind Budgeting
How to Create a Household Budget
The 3-Step Approach to Budgeting
Short Exercise
Homework
Related Posts
Salary Rent UtilitiesGroceries ClothingAuto PaymentsInsuranceCharitableCell PhoneStudent Loans
$2,30070010020010025030020075150
April Johnson had the following cash inflows and outflows for the monthly period:
5
Lesson1Lesson 1-
ABCs to Budgeting
OBJECTIVES
Understanding the Concepts Behind Budgeting
How to Create a Household Budget
The 3-Step Approach to Budgeting
Short Exercise
Homework
Related Posts
How much will you earn? Calculate your net pay or gross pay.
6
Lesson1Lesson 1-
ABCs to Budgeting
OBJECTIVES
Understanding the Concepts Behind Budgeting
How to Create a Household Budget
The 3-Step Approach to Budgeting
Short Exercise
Homework
Related Posts
www.Paycheckcalculator.com
7
Lesson 2How to Marry the Right
Bank
Lesson2
How to Marry the Right
BankOBJECTIVES
Study Institutions
Understanding their Services
Bank Rates and Penalties
Goal Match-Up
Short Exercise
Homework & Related Posts
Terms to Know:
Credit union Financial institutionBank
1
Lesson2
How to Marry the Right
BankOBJECTIVES
Study Institutions
Understanding their Services
Bank Rates and Penalties
Goal Match-Up
Short Exercise
Homework & Related Posts
Terms to Know:
Money Market AccountsCd’sLoans (Principle and
Interest)Protection PlansStudent AccountsFDIC Insured
2
Lesson2
How to Marry the Right Bank
OBJECTIVES
Study Institutions
Understanding their Services
Bank Rates and Penalties
Goal Match-Up
Short Exercise
Homework & Related Posts
3
Serv
ices
and P
erks
Banks Credit Unions
Checking accounts
Savings Accounts
Loans
Student Accounts
Large Number of ATMs
Online banking
Mobile Banking
Ownership of business
Special programs for members
Lesson2
How to Marry the
Right BankOBJECTIVES
Study Institutions
Understanding their Services
Bank Rates and Penalties
Goal Match-Up
Short Exercise
Homework & Related Posts
Terms to Know:
APRInterestEarly Withdrawal PenaltiesBank FeesMinimum Deposits
4
Lesson2
How to Marry the
Right BankOBJECTIVES
Study Institutions
Understanding their Services
Bank Rates and Penalties
Goal Match-Up
Short Exercise
Homework & Related Posts
5
Goal Match-
Up
Lesson2
How to Marry the
Right BankOBJECTIVES
Study Institutions
Understanding their Services
Bank Rates and Penalties
Goal Match-Up
Short Exercise
Homework & Related Posts
List your wants, find the right bank for you and tell why you chose it.
6
Lesson2
How to Marry the Right
BankOBJECTIVES
Study Institutions
Understanding their Services
Bank Rates and Penalties
Goal Match-Up
Short Exercise
Homework & Related Posts
Homework:Reconcile an account for
practice
Related Posts:Watch budget video
7
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