# BUDGET

### BUDGET

###### Published on 15 June 2021

How to work on your budget

CA
##### Cindy Allen
Cindy's Personal Gallery
##### Transcript
00:02
How to...
00:04
Make a Budget
00:06
Lets get started!
00:09
BUDGET
00:09
Two Key Things
00:11
1: Money In, Money Out
00:13
2: Needs, Wants, Savings
00:18
Money In, Money Out
00:20
Money In = How much money you're making
00:23
Money Out = How much money you're spending
00:27
TIP
00:27
TIP
00:28
Be Honest
00:29
Be Realistic
00:37
Step 1: Calculate all forms of income in a month
00:40
Income Assistance = \$500 Part Time Work = \$400 Total = \$900
00:42
Step 2: Calculate what you pay for each month
00:45
Rent = \$800 (-\$375) Utilities = \$100 Food = \$200 Phone = \$50 Internet = \$50 Cigarettes = \$80 Total = \$905
00:49
Money In = \$900 Money Out = \$905
00:51
Total = -\$5
00:55
50%
00:55
Things necessary to survive like rent, groceries, utilities, etc
00:55
NEEDS
00:58
30%
00:58
Non-essential things like dining out, entertainment, hobbies, etc
00:58
WANTS
00:59
20%
00:60
This can consist of emergency funds, debt payments, etc
00:60
SAVINGS
01:07
Needs
01:08
Rent = \$800 (-\$375) Utilities = \$100 Food= \$200 Total = \$725
01:09
Wants
01:09
Phone = \$50 Internet = \$50 Cigarettes = \$80 Total = \$180
01:11
50% of \$900 = \$450
01:11
30% of \$900 = \$270
01:13
REMEMBER
01:14
Every budget will look different
01:16
This is just a guideline
01:17