Budgeting 101 Slide Deck
Financial Literacy 101
Budget Boss
Your Money, Your Power: Mastering Your Personal Finances
What is Budgeting?
1
A plan for how you will spend and save your money.
2
A tool to understand where your money comes from and goes.
3
A way to take control of your financial future.
"Budgeting isn't a cage. It's a roadmap."
Watch: Intro to Budgeting
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Think about it: What is the most surprising thing you learned about money in this clip?
Income vs. Expenses
Income
Money you receive.
- Allowance
- Part-time job earnings
- Gifts & Scholarships
Expenses
Money you spend.
- Food & Snacks
- Subscriptions
- Transportation
Needs vs. Wants
Needs
Essential for survival.
Food
Shelter
Transport
Health
Wants
Desired, but not essential.
Games
Concerts
Tech
Dining Out
Watch: Sorting It Out
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Challenge:
Name one thing that could be a "Need" for one person but a "Want" for another.
Quick Tip:
Wait 24 hours before buying. If you still "need" it, it might be worth it!
Why Be a Budget Boss?
Achieve Your Goals
Save for a car, college, or big experiences.
Reduce Stress
Avoid financial surprises and feel secure.
Make Smart Choices
Prioritize spending and avoid debt.
Build Good Habits
Laying the foundation for success.
Building Your Budget
01
Calculate Your Income
How much money do you expect to receive this month?
02
Track Your Expenses
Where is your money currently going? (Fixed vs. Variable)
03
Categorize & Prioritize
Group expenses. Put your Needs first!
04
Make Adjustments
Find where to cut back or where to save/invest more.
The 50/30/20 Rule
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50%
Needs
30%
Wants
20%
Savings
Tips for Success
Be Realistic
Don't cut out all enjoyment; make it sustainable for you.
Track Regularly
Check your spending often to stay on track.
Be Flexible
Life happens! It's okay to adjust when plans change.
Pay Yourself First
Automate savings as soon as you're paid.
Putting it Together
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"The best time to start budgeting was yesterday. The second best time is right now."
"A budget is telling your money where to go instead of wondering where it went."
ā Dave Ramsey
Your Money, Your Power!