Financial Literacy: Budgeting

Financial Literacy: Budgeting

**Please send all correspondence and questions for this module to your TRiO advisor**

Student Learning Outcome:

Students will be able to identify and learn the necessary skills to be able to successfully budget personal finances.

Step 1:

Review the - Budgeting PowerPoint

On Slide 10 you will see a sample budget for completion. Please utilize this information and fill in the sample budget as exact as possible. 

Hypothetical budget assuming:

Salary of $35,000/12 Months = 2900 – 20% tax = $2300 Per Month

Average credit card debt of $5,781 with a minimum payment of $231 

Student loan debt of $18,000 with a payment of $147 

Rent of $400 Car payment of $315 Using the numbers above

Please complete the Sample Template: budgetworksheet.doc

Step 2:

Directions also provided at the conclusion of the Budgeting PowerPoint. 

Please answer these questions in 3-4 complete sentences citing the PowerPoint slide or website where the information pertaining to the question was found.

What are the three things we should consider before making a purchasing decision?

What were your Saving Goals #1 and #2, How much money was allocated to these after necessities were paid?

What are the five principles we should keep in mind during day to day money decisions?