Show Me the Money!

Task 1 - Creating Your Personal Budget

During this task you will need to fill out and then print the following attached personal budget.  The atttached spreadsheet (personal budget) will show all your calculations and contain a working budget.  Your expenses must fall within your income! 

Task 2 - Wants and Needs

There are three main areas of spending. The first and most important area is called basic needs. Basic needs are things that people need in order to live. These are things like food, housing, and clothes. There are other costs that people must pay for as well. Things like child care, credit card payments, child support, and alimony are all required costs. People must pay these or else they will get in trouble. Finally, people have wants. Wants are things that people would like to have but do not need in order to survive.

Task 3 - Making Choices About Your Money

Now you are aware of everything you have to spend money on. The next step is to figure out if there is any money left for optional spending. If you do have money left after paying for all of your needs you can choose to do some optional spending. This is where you have choices. What do you want to do with your money?