Unit 1 - Money Management

Helps you to manage your cash flow so you have the money to pay for the things you want and need

A method of saving small amounts of money over time for major purchases like vacations and cars.

In a single decision, it is what you give up in order to get / gain something else.

Money put aside for dramatic and unplanned events such as a car accident, medical bill, or lost cell phone

Cost the same amount every time - often a set monthly payment

A list of every single expense you have for the month. Includes the date, store, item purchased, and the dollar amount

Common expenses where the amount is different each time, such as paying for groceries or gas.

50% of your income is spent on Needs, 30% of your income is spent on wants, and 20% of your income is saved

The money flowing into your pockets as income and flowing out as expense and debt.

 A budgeting strategy which gives every dollar a purpose. Assigns every dollar of income to a specific expense category