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1. Why is it so difficult to talk about money?
2. What is most helpful or vital to developing a workable budget?
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- 1. Alana only has $56.47 saved for college. Brainstorm possible reasons why she has only managed to save this amount. 2. What do you think Alana’s goals should be?What are a few ways that Alana can get a better understanding of her spending patterns?What is a budget and why is budgeting important?Matt and Bree are saving for a new car. At the end of 2013, their total savings was $12,500. In 2014, total savings increased to $15,550. How much did Matt and Bree save in 2014?
- Budgeting Worksheet C–Create a Short-Term Budget Worksheet Some people spend their incomes without thinking of what they are doing or whether their buying decisions make much sense. They may realize that they must pay their rent and insurance bills, or make monthly car payments. However, beyond these large and regular expenditures, things can get kind of “fuzzy." It is not uncommon for people to run out of money from one paycheck to the next. Making and following a budget is an obvious answer to this problem, but it is hard to do when you're not really aware of where your money goes. To take control of your financial situation, you should first create a series of short-term budget worksheets. These are documents that record all income and spending that takes place over a specific period of time, most often one month. When bills, such as insurance, are paid only once or twice a year, you must include an appropriate share as spending in cach worksheet. Directions: Consider Gretchen's…how to keep a realistic budget with personal economy?What is a good exercise that you can perform if you want to reduce the amount of money that you spend each month? A. Stop at a gourmet coffee shop each day to buy coffee and think about your spending. B. Avoid using cash for your payments and put all of your expenses on a credit card. C. Keep a written record of your spending and total it at the end of the week. D. Use the ATM machine to withdraw large sums of cash out of your bank account each week.
- If a friend asked you how much money you had to spend, what items would you include in your response?When you use money to purchase lunch, money is serving which role?individual spends $20 per day. Suppose that this person pays for all her purchases using her credit card. She withdraws no money from her bank account until the morning of the fourth day, when she withdraws the whole amount necessary to pay for her credit card purchases over the previous four days. Calculate the amount of money this person withdraws each time she goes to the bank.
- In a business Finance/Budgeting situation, create a budget for month-long vacation trip to Australia in 2 years. Calculate how much you'll need for the trip and how much you'd have to save each month to afford the trip. List out each expense, airfare, hotel, food, shopping, sightseeing.budget ?Fill in all the blanks!