What is the budgeting rule of thumb?
50% Wants; 30% Savings; 20% Needs
50% Needs; 30% Wants; 20% Savings
Shopping, eating out, and hobbies are example of...
Wants
Needs
Groceries, Housing, Utilities, Health Insurance, and a Car Payment are examples of...
Wants
Needs
What is our coping skill of the day?
What does it mean to "pay yourself first"?
Deposit $ into your savings account before spending any
Purchase an item you want before something you need.
Which strategy will help you save the most money?
As soon as you get paid, put a fixed amount in savings
At the end of the month, put leftover money in savings
What is the benefit of automating your savings account contributions?
You can change the amount you deposit each month
Your $ is transferred automatically and guarantees savings
What does it mean to set up an “automatic deposit”?
You set up an amount of your paycheck to be deposited into an account automatically.