Just as setting goals is important to keep track of your success, budgeting your money is crucial to your financial success. There is nothing worse than looking at all the income you brought in over the year and have nothing but debt to show for it. To achieve some of your personal/financial goals, like buying your own car or saving for college, you have to budget your money. This may mean cutting back on little expenses,  ($4 frappacino?), to meet your savings goal. By looking at your expenses, you will be able to determine where you need to cut back to be able to save for the things that are really important to you.

To learn more about budgeting start by going to Successful Budgeting for Students.

Answer the following questions on budgeting in complete sentences:

1. What is a budget? And why budget?

2. List the steps in managing your budget.

Step One:

Step Two:

-why is this step important?

Step Three:

-where can you learn about this?

Step Four:

Step Five:

-list three ways to live a frugal lifestyle.

1.

2.

3.

3. Go to the interactive worksheet provided by Visa balance budget link.

-Type in your income and expenses-try to be as accurate as possible and estimate on those little everyday items.

-Print out your results and attach them to your answer sheet.
(Copy and paste your budget into Word if it doesn't print correctly.)