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C H AP T E R 3

Foundations in Personal Finance High


School Edition

Marcus:
To begin your journey toward financial success!

GIVING
Charity
Other:
_____________________
GIVING TOTAL
SAVING

Budgeted

TRANSPORTATION
Gas
Car Insurance

Oil Changes

$
Budgeted

Emergency Fund
College
Car & Repairs
Computer
Other: C AR T I r e s
SAVING TOTAL
FOOD

$
$
$185
$
$ 240
$ 425
Budgeted

License & Taxes


TRANSPORTATION
TOTAL
PERSONAL
Cosmetics / Hair Care
Music / Technology
Gifts
Pocket Money

Restaurants / Eating
Out
School Lunch / Snacks
FOOD TOTAL
CLOTHING
Clothes
Sports Jerseys /
Apparel

CLOTHING TOTAL

$
$
Budgeted
$
$

Cell Phone
Other:
_____________________
PERSONAL TOTAL
RECREATION
Movies
Concerts
Sporting Events
Other:
_____________________
RECREATION TOTAL

Budgeted
$200
$ 100
$ 50
$
$350
Budgeted
$
$
$
$
$ 65
$
$ 65
Budgeted
$
$
$
$
$

$ _________840_______________ - $_________840_______________ =
$_______0______________

C H AP T E R 3

Foundations in Personal Finance High


School Edition

Jenna:
To begin your journey toward financial success!

GIVING
Charity
Other:
_____________________
GIVING TOTAL
SAVING

Budgeted
$
$

Emergency Fund
College
Car & Repairs
Computer
Other:
_____________________
SAVING TOTAL
FOOD

$
$
$ 254.10
$
$

Restaurants / Eating
Out
School Lunch / Snacks
FOOD TOTAL
CLOTHING
Clothes
Sports Jerseys /
Apparel
CLOTHING TOTAL

$
Budgeted

TRANSPORTATION
Gas
Car Insurance
Oil Changes

Budgeted
$ 100
$ 83.30
$ 100

License & Taxes


TRANSPORTATION
TOTAL
PERSONAL
Cosmetics / Hair Care
Music / Technology
Gifts
Pocket Money

$
$ 283.30

Cell Phone
Other:
_____________________
PERSONAL TOTAL

$
$

$
$
Budgeted
$
$

RECREATION
Movies
Concerts
Sporting Events
Other: Tr i p to Me xi c o

Budgeted
$
$
$
$ 125

RECREATION TOTAL

$ 125.0

$ 254.10
Budgeted

Budgeted
$
$
$
$

$ ____________662.40____________ - $__________662.40______________ =
$______0_____________

C H AP T E R 3

Foundations in Personal Finance High


School Edition

Your Personal Budget:


To begin your journey toward financial success!

GIVING
Charity
Other:
_____________________
GIVING TOTAL
SAVING

Budgeted
$0
$0

Emergency Fund
College
Car & Repairs
Computer
Other:
_____________________
SAVING TOTAL
FOOD

$
$
$
$
$

Restaurants / Eating
Out
School Lunch / Snacks
FOOD TOTAL
CLOTHING
Clothes
Sports Jerseys /
Apparel

$ 40

CLOTHING TOTAL

$0

$0
Budgeted
100
0
0
0

$ 100
Budgeted

$ 5.40
$ 40
Budgeted
$0
$0

TRANSPORTATION
Gas
Car Insurance
Oil Changes

Budgeted
$0
$ 40
$0

License & Taxes


TRANSPORTATION
TOTAL
PERSONAL
Cosmetics / Hair Care
Music / Technology
Gifts
Pocket Money

$0
$ 40

Cell Phone
Other:
_____________________
PERSONAL TOTAL

$0
$

RECREATION
Movies
Concerts
Sporting Events

Budgeted
$0
$ 49.60
$0
$

Other:
_____________________
RECREATION TOTAL

Budgeted
$ 20
$0
$o
$ 25

$0

$ 49.60

$ ____________280__________ - $__________280______________ =
C H AP T E R 3

Foundations in Personal Finance High


School Edition

$_______0______________

After completing all three budgets, answer the following questions in a minimum of one paragraph each.

Explain how writing a monthly budget helps you manage spending.


By writing a monthly budget it allows you to manage your money better. You can see what you
averagely pay for certain things and then manage it from there. Once you calculate your monthly income
than deduct 20% for taxes, you can then start designing your very own budget. A budget will allow you to
have control of your money and put you in charge of it. It can really benefit an individual who struggles
with money management.

Explain how writing a monthly budget helps you achieve financial goals.
Writing a budget can help you achieve your financial goals. If you set goals for yourself every month
than you have something to try to accomplish. This can allow an individual to form better saving habits
which will assist them later on in life. The more money they begin to start managing the more they will
make sure its going to the right place. This will allow them to obtain possessions they want without
going into debt.

C H AP T E R 3

Foundations in Personal Finance High


School Edition