Introducing
Prezi AI.
Your new presentation assistant.
Refine, enhance, and tailor your content, source relevant images, and edit visuals quicker than ever before.
Trending searches
Loading…
Section 6.3: Your Budget Worksheet
2
Transcript
Budget Pitfalls
- It is important to keep a realistic budget.
- Three reasons that budgets fail.
- 1. Too detailed (impossible to manage).
- 2. Failure to predict flexible expenses well.
- 3. Lack of effort/laziness.
- 4. Quit because they think it takes too much effort.
Step 4
- Record your actual income and expenses.
- Pay stubs, bank statements, receipts, bills and credit card statements should make this easier.
Step 3
- Estimate spending/savings.
- First list your fixed expenses.
- Just like with your income, you must plan for uneven expenses (maybe there is a birthday that month, etc.).
- Savings is an expense (pay yourself first!).
- Your savings should not just be what is left over.
Step 1
Section 6.3: Your Budget Worksheet
Step 2
- Divide a piece of paper into 4 columns.
- Column 1: list the sources of income and expenses.
- Column 2: Estimate how much you expect to make in income or spend in expenses.
- Column 3: at the end of the month, record how much you ACTUALLY made or spent.
- Column 4: Record the difference.
- O/U = Actual - Estimated.
- Estimate your income.
- Steady pay stubs should give you an idea of how much you will make.
- Make sure to use NET income
- Also include any uneven income (income that is not steady).
Steps to Prepare the Worksheet
- Within the worksheet you are going to list all income and expenses.
- Budget Worksheet – a planning document on which you record your expect and actual income and spending over a short time, usually a month.
Step 5
- Calculate the difference.
- Subtract: Actual column – Expected column = over/under.
- If the result is negative, it means you spent or made LESS than you expected.
- This is good for your expenses, bad for income.
- If the result is positive, you spent or made MORE than expected.
- This is bad for expenses, good for income.
Choose a template
Presentations from around the world
Learn more about creating dynamic, engaging presentations with Prezi