1. 1 Press Ctrl-A ©G Dear2009 – Not to be sold/Free to use Budget Evaluation Stage 6 - Year 11 Applied Mathematic (Preliminary General 1)

2. 2 Budgeting takes: Planning Discipline Looking ForwardLooking Back A Budget is... Your Financial Plan.

3. 3 Have a realistic written record of your budget. Regulate spending based on income. Have a realistic written record, i.e. keep records. Spread out expenses. Don’t rely on overtime or 2 nd jobs. Set Goals: needs and wants. Make up your mind and stick to it. Don't run for cover if in trouble due to unexpected illness, accident or mishap. Don't be afraid to alter your plan if it can be improved

4. 4 Remember the place of credit in money management: (i) needs vs. wants (two different questions) (ii) can you afford credit? (iii) credit is not - a way of beating your budget. 100 top tips for tough times

5. 5 1.Housing 2.Automobile 3.Credit Card

6. 6 Fortnightly IncomeFortnightly Expenditure Net Wages$800.00 Gifts$27.50 Bank Interest$6.00 Overtime$250.00 Rent$380.00 Food$120.00 Electricity$35.00 Petrol$120.00 Telephone$32.00 Mobile$49.50 Credit Card$75.00 Entertainment$100.00 Savings (Balance)$172.00 $1083.50 Total IncomeTotal Expenditure Note Income = Expenditure This is a Balanced Budget

7. 7 Fortnightly IncomeFortnightly Expenditure Net Wages$800.00 Gifts$27.50 Bank Interest$6.00 Overtime$250.00 Rent$380.00 Food$120.00 Electricity$35.00 Petrol$120.00 Telephone$32.00 Mobile$49.50 Credit Card$75.00 Entertainment$100.00 Savings (Balance)$172.00 $1083.50 Total IncomeTotal Expenditure Question Is it a good budget? No! No! No! Bad Bad

8. 8 Fortnightly IncomeFortnightly Expenditure Net Wages$800.00 Gifts$27.50 Bank Interest$6.00 Overtime$250.00 Rent$380.00 Food$120.00 Electricity$35.00 Petrol$120.00 Telephone$32.00 Mobile$49.50 Credit Card$75.00 Entertainment$100.00 Savings (Balance)$172.00 $1083.50 Total IncomeTotal Expenditure Question Why are they bad? Not reliable income sources Bad Bad

9. 9 Fortnightly IncomeFortnightly Expenditure Net Wages$800.00 Bank Interest$6.00 Overtime$250.00 Rent$380.00 Food$120.00 Electricity$35.00 Petrol$120.00 Telephone$32.00 Mobile$49.50 Credit Card$75.00 Entertainment$100.00 Savings (Balance)$172.00 $806.00$1083.50Total IncomeTotal Expenditure Bad Note Income < Expenditure This is a Tragic Budget

10. 10 Fortnightly IncomeFortnightly Expenditure Net Wages$800.00 Bank Interest$6.00 Rent$380.00 Food$120.00 Electricity$35.00 Petrol$110.00 Telephone$32.00 Mobile$49.50 Credit Card$75.00 Entertainment$0.00 Savings (Balance)$4.50 $806.00 Total IncomeTotal Expenditure Note Income = Expenditure This is a Good Balanced Budget Make adjustments.