The video outlines 5 categories for expenses. List 3 of them.

Essentials, Security, Goals, Lifestyle, and Discretionary (any 3 of these)

Explain why the video suggests giving every dollar 'a job'.

To ensure all money is allocated to either spending or savings, providing clarity and control over finances.

Budgeting with present dollars focuses on money you currently have, while budgeting as prediction estimates future income and spending.

Name: Budgeting Basics
Author: Insta~Lesson

12th Grade · Social Studies · 75 min· General Ss.ms.9-12.1

I can create a personal budget that tracks income, expenses, and savings.

1
According to a 2016 Gallup poll, only 32% of couples keep a written budget of any kind.
2
When creating a budget, it is important to categorize your expenses into 5 categories: Essentials, Security, Goals, Lifestyle, and Discretionary.
3
To make your budget stick, you should write it down, update it, and use advanced technology such as budgeting apps.

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