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You must explain where every penny of your money is going. It is important to understand how quickly you can overspend if you do not create a spending plan AND record your actual spending. Saving money is a critical part of your financial future. Start saving for emergencies first. Once you have saved 1000 dollars in your emergency fund, you can start saving for anything else. BUT THE EMERGENCY FUND MUST COME FIRST. (Emphasize this!) Your budget will be made up of four significant buckets. Savings, Car, Housing, and Personal Expenses. As you start in life, you may not have to budget for every one of these expenses, OR you may have to figure in a few other expenses, such as school loans, homeowners’ expenses, etc. First, we will practice creating a budget using these buckets and associated expenditures. Quickly review each on
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