Budgeting Basics
12th Grade•75 minutes•General SS.MS.9-12.1
Learning Objective
I can create a personal budget that tracks income, expenses, and savings.
Key Concepts
According to a 2016 Gallup poll, only 32% of couples keep a written budget of any kind.
When creating a budget, it is important to categorize your expenses into 5 categories: Essentials, Security, Goals, Lifestyle, and Discretionary.
To make your budget stick, you should write it down, update it, and use advanced technology such as budgeting apps.
Practice Questions
This lesson includes 12 practice questions to reinforce learning.
View questions preview
1. According to the video, what percentage of couples keep a written budget?
2. The video outlines 5 categories for expenses. List 3 of them.
3. Explain why the video suggests giving every dollar 'a job'.
...and 9 more questions
Educational Video
Budgeting Basics!
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