THE BUXX
KID BUXX | Financial Literacy for Our youth
Subject: Budgeting is Responsible Review
Budgets Overview Part 9
Becoming a Budgeting Expert
THE BENEFITS OF BUDGETING
So we know a budget is a plan to save, track, and improve your money situation. So why is it so important that we keep doing budgeting assignments you may ask?
The more you practice, you will know how to make sure you always have enough money to take care of yourself when you grown up.
A budget includes "INCOME" and "EXPENSES"
How do you create "Income" ?
Either make my own business or get a job
Pay for a new car
Make my own business for money
Get a Job
Either make my own business or get a job
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How do I create an "Expense" ?
Spend money
Get a job
Spend money
Sell my house
Sell lemonade
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For this exercise, when you sell something, you receive money.
PAYCHECK $295
PAYCHECK $2,950
PAYCHECK $29
BONUS $587
BUY AN IPAD $999
BUY PHONE $1,000
BUY MEDICINE $500
GAS FOR CAR $90
Sell House $18,099
GROCERIES $99
LEND $9,999
Sell Lemonde $293
INCOME
Select Income # 1
Sell house
Paycheck for $295
Return bonus for $587
Sell house for $18,099
Sell lemonade for $293
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Select Amount
$18,099
$295
$587
$18,099
$293
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EXPENSE
Select Expense # 1
Buy a phone
Sell my house for $18,099
Lend my friend money for $9,999
Buy a phone for $1,000
Receive refund from lender for $9,999
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Select Amount
$1,000
Sell my house for $18,099
Lend my friend money for $9,999
Buy a phone for $1,000
Receive refund from lender for $9,999
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Select Income # 2
Receive paycheck
Payback paycheck for $295
Receive paycheck for $2,950
Bonus Payback for $587
Buy groceries for $99
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Select Amount
$2,950
$295
$2,950
$587
$99
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Select Expense # 2
Buy gas for car
Receive bonus for $587
Buy an iPad for $999
Buy gas for car for $90
Buy medicine for $500
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Select Amount
$90
Receive bonus for $587
Buy an iPad for $999
Buy gas for car for $90
Buy medicine for $500
arrow&v
Select Income # 3
Sell lemonade
Sell lemonade for $293
Buy lemonade for $293
Buy phone for $1,000
Buy medicine for $500
arrow&v
Select Expense # 3
Buy medicine
Receive paycheck for $2,950
Receive bonus for $587
Buy an iPad for $999
Buy medicine for $500
arrow&v
Select Amount
$293
$293
$293
$1,000
$500
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Select Amount
$500
Receive paycheck for $2,950
Receive bonus for $587
Buy an iPad for $999
Buy medicine for $500
arrow&v
Select Income # 4
Receive paycheck
Payback bonus for $587
Receive paycheck for $295
Buy gas for car for $90
Buy an iPad for $999
arrow&v
Select Amount
$295
Payback bonus for $587
Receive paycheck for $295
Buy gas for car for $90
Buy an iPad for $999
arrow&v
Select Expense # 4
Buy an iPad
Sell lemonade for $293
Sell my house for $18,099
Buy an iPad for $999
Buy a phone for $1,000
arrow&v
Select Amount
$999
$293
$18,099
$999
$1,000
arrow&v
Select Income # 5
Receive bonus for $587
Receive bonus for $587
Receive paycheck for $29
Sell Lemonade for $293
Buy house for $18,099
arrow&v
Select Amount
$587
$587
$29
$293
$18,099
arrow&v
Select Expense # 5
Buy groceries
Sell lemonade for $293
Buy groceries for $99
Buy an iPad for $999
Buy a phone for $1,000
arrow&v
Select Amount
$99
$293
$99
$999
$1,000
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Income Total
Expense Total
How much money do you have left over ?
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