Financial Literacy Sample

6 · Unit 2 | Budget

- Groceries - ‡”•‘ƒŽ ‹–‡• ȋ–‘‹Ž‡–”‹‡•ǡ Ž‡ƒ‹‰ •—’’Ž‹‡•ǡ ‡– ǤȌ - ƒ˜‹‰•

‘‡ ‘ˆ –Š‡•‡ ‡š’‡•‡• ƒ”‡ ϔ‹š‡† ǡ ‡ƒ‹‰ –Š‡› †‘ǯ– Šƒ‰‡ from month to month. For example, your cell phone bill, car ‹•—”ƒ ‡ǡ ƒ† •–”‡ƒ‹‰ •—„• ”‹’–‹‘• ƒ”‡ Ž‹‡Ž› Ƥš‡† ‡š’‡•‡•Ǥ Ž‡š‹„Ž‡ ‡š’‡•‡•ǡ Š‘™‡˜‡”ǡ ƪ— –—ƒ–‡ ˆ”‘ ‘–Š –‘ ‘–Š ƒ† can be harder to budget for. For example, the amount you spend on eating out may vary depending on how often you go out and where you go to eat. When you start paying utilities, your electricity, gas, and water bills will change depending on how much you use. †‡”•–ƒ†‹‰ –Š‡•‡ ‘’‘‡–• ‹• ”— ‹ƒŽ ˆ‘” ‡ơ‡ –‹˜‡ budgeting. By knowing exactly where your money comes from and where it goes, you can make informed decisions about your Ƥƒ ‡•ǡ ƒ˜‘‹† ‘˜‡”•’‡†‹‰ǡ ƒ† ‡•—”‡ ›‘— Šƒ˜‡ ‡‘—‰Š money for essential needs and future savings. Benefits of Budgeting Š‡”‡ ƒ”‡ ƒ› •‹‰‹Ƥ ƒ– „‡‡Ƥ–• –‘ ”‡ƒ–‹‰ ƒ „—†‰‡–Ǥ ‡ǯ˜‡ mentioned some already (budgets can help you make informed decisions and avoid overspending, for example), but in case ›‘—ǯ”‡ •–‹ŽŽ —•—”‡ ™Š‡–Š‡” „—†‰‡–‹‰ ‹• ˆ‘” ›‘—ǡ Š‡”‡ ƒ”‡ –Š”‡‡ ‘”‡ „‡‡Ƥ–• –‘ „—†‰‡–‹‰Ǥ 1. Budgeting helps you reach your spending goals. By –”ƒ ‹‰ ›‘—” ‘‡›ǡ ›‘— ƒ •‡– •Š‘”–Ǧ–‡” ‰‘ƒŽ•ǡ Ž‹‡ buying a new phone or going on a trip with friends, and Ž‘‰Ǧ–‡” ‰‘ƒŽ•ǡ Ž‹‡ •ƒ˜‹‰ ˆ‘” ‘ŽŽ‡‰‡ ‘” ƒ ƒ”Ǥ ‘™‹‰ your income and expenses can determine how much money you need to save each month to achieve your goals. 2. Budgeting creates good planning habits. It encourages

”‘—–‹‡ ƒ† †‹• ‹’Ž‹‡ ‹ Ƥƒ ‹ƒŽ ƒƒ‰‡‡–ǡ ™Š‹ Š develops lifelong money management skills. Regularly ”‡˜‹‡™‹‰ ƒ† ƒ†Œ—•–‹‰ ›‘—” „—†‰‡– Š‡Ž’• ›‘— •–ƒ› ‘ –”ƒ  ƒ† ƒ Š‹‡˜‡ ›‘—” Ƥƒ ‹ƒŽ ‰‘ƒŽ•Ǥ SAMPLE