Lesson 7 Financial Strategies

• Explain the importance of a personal budget

• Describe how budgeting hellps businesses manage their finances*

• Display understanding of how forecasting helps businesses manage their finances

A budget is a detailed plan of income and expenses over a period of time. Individuals and families as well as businesses use budgets to help them manage their finances.

Think about each statement that you are about to read, then select whether you agree or disagree.

This lesson will be about different types of financial strategies that businesses use to manage their finances.​

Watch the video on the next slide as a short review of personal budgeting

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