

Budgets
Presentation
•
Mathematics
•
10th - 12th Grade
•
Easy
+1
Standards-aligned
Victoria Gianatiempo
Used 5+ times
FREE Resource
16 Slides • 7 Questions
1
2
Budget
An outline of the money a person or family expects to receive and spend
3
Short Term Budget
Plan for expenses that will occur within a brief period of time, usually a month
4
Long Term Budget
Plan for major financial decisions that may not arise until years later
5
Income
All money coming in
Examples: Salary, allowance, gifts
6
Expense: All money that is spent
Fixed Expense: Remains the same each
month
Examples: rent, mortgage, car payment
Variable Expense: Changes from month to month
Examples: clothing, food, gas…
7
Disposable Income
Another word for net pay
8
Discretionary Income
Amount of income after the essentials (food, clothing, shelter) have been taken care of.
9
Debt
Money that is owed
10
Savings
Putting money aside for furture use.
11
Are there any disadvantages?
12
Gives you control over your own money
Helps you focus on your financial goals
Makes it easier to stay aware of your savings and debts
Helps you save for emergencies or unexpected costs
It can help lead to a happy retirement
13
14
What items in a budget might change from month to month?
Your utilities may change
You work on commission
You are self-employed
You have special events coming up
15
How to set up and maintain a budget
16
Tips for maintaining a budget
17
Multiple Select
What are some items you might save up for using a long-term budget?
New Shoes
New House
Spring Break Vacation
College
18
Open Ended
Below is a copy of Sue’s monthly budget for April.
What is the difference between Sue’s planned expenses and her actual Expenses?
19
Open Ended
Below is a copy of Sue’s monthly budget for April.
What is the difference between Sue’s actual total income and her actual total expense?
20
Multiple Choice
Does Sue go over her monthly income or does she experience surplus?
She goes over her monthly income
She experiences surplus
21
Multiple Select
In what areas did she overspend?
Food
Credit Card
Miscellaneous
Utilities
Clothing
22
Multiple Select
In what areas did she spend less than she planned?
Food
Credit Card
Savings
Utilities
Clothing
23
Open Ended
What could be a reason why her miscellaneous expenses were so high this month?
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