1. Budgeting basics & how to get started!
Budgeting may not seem like a very fun topic, may not seem like a very important topic.
The earlier you start understanding and developing a budget, the easier it’s going to be in the future!
OPENING QUESTION: who here can tell me what a budget is?

2. Show of hands How many of you have created a budget in the past?
How many of you have STUCK to your budget?

3. What do you think a budget is?
Discussion question…
What do you think a budget is?

4. What is a budget? A PLAN FOR YOUR MONEY!
Budgeting is a way of keeping track of exactly how much money is coming in and exactly how much money is going out.
Budgeting ensures you don’t run out of money, so you have money when you really need it.

5. Why budget?... Why do you think it’s important to have a budget?
Ask students for suggestions on why it’s important to budget.

6. Why is it important?... A budget can help you:
1. Achieve your financial goals.
Save up for a big purchase.
Create an emergency fund.
2. Avoid overspending on unnecessary things.
3. Increase your savings.
4. Manage where your money is going.
Keeps you in control of your money and where it’s going.

7. What’s in a Budget? INCOME EXPENSES
Any money earned or contributed to your household from personal finances or your job.
EXPENSES
Money that you spend, or anything you purchase. This includes both planned and unexpected expenses.
The money you have coming in is called 'income'. The money you spend is called expenses.
Does anyone have example of income?
Income: Paycheck, gift money, scholarship, tips, allowance.
Does anyone have an example of an expense?
Expenses: rent, taxes, groceries, electricity bill.
If your income is higher than your expenses, then your budget is good. If your expenses are higher than your income, you need to find somewhere to cut back.

8. The Budgeting process 1 2 3 4 Develop a plan
Keep it simple & realistic! 2
Make a list of all sources of income
Make a list of all anticipated expenses 3
Identify potential problems
Do you have a plan for emergencies? 4
Get started!
Revisit and change when needed

9. Budget #1
A student, working part time
Living at home

10. budget #2
Full time job
Lives on their own

11. Next: budgeting activity!