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Introduction to Budgeting

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Learn how to use a budget to get your financial life under control. Budgeting is one of the foundations of a successful financial life.

What you will learn

  • What Is a Budget?
  • The Anatomy of a Budget
  • Your Spending Choices in Your Budget
  • Budgeting Activity
  • Selecting a Budgeting Tool

What do you know?

Introduction to Budgeting

What word would you use to answer the question below?

"What does money mean to you?"

Common answers are power, freedom, stress and necessity.

How you feel about money will correlate directly to how you manage money. What’s important to keep in mind is what you want your money to do for you. Ultimately money is a tool you get to define and put to work for a successful future.

Budgeting is one of the most important steps in the financial planning process. Having a plan for your money, your cash inflows, and your cash outflows provides you with a foundation for planning your short- and long-term financial future. Developing and maintaining a budget as a young adult will put you on a path to personal financial success.