How To Budget Your Money

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How To Budget Your Money

• Suzette Daniel

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Introduction

• A budget helps you keep track of money earned
  versus money spent
• You will learn bad budgeting versus good
  budgeting
• Youll learn how to create your own budget

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Overview

• A Budget helps you to save the money that you
  have
• It helps you to realize you expenses
• It helps you to make long term goals
• It helps you to payyour bill on time

Debt
Bills
Want
Need
Lack
Joy
Save
Rich
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Bad Budgeting

• Romans 138Owe no man any thing, but to love one
  another for he that loveth another hath
  fulfilled the law.
• Its okay to have credit, but not so much that
  you live beyond your means
• Dont owe more than you make
• Its a vicious cycle the gets worse and worse
  instead of better

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Example 1

• You get 5 allowance, but you have a 2 credit
  with Sister Linda for cup cakes and a 4 credit
  at the cafeteria
• You have no money for the current week so you get
  more debt the minute you pay off the old debt,
  youre always owing someone

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Example 2

• You make 1500 a month
• Your bills (Gas, water, rent, etc) are 1450 a
  month
• Your credit cards minimum payment of 200
• How much are you drowning by?

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A Budget is one solution

• Make a list of all the bills you pay out each pay
  check
• Put the extra in a savings account
• Make saving Goals for each month
• If your drowning in debt try to decrease your
  spending and pay off you credit cards

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Sample Budget
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Summary

• Establish how much you make and how much you owe
• Work toward decreasing how much you owe and
  starting to save money
• You dont need a fancy application you can use a
  notepad