Budgeting for Your Financial Future

Budgeting for Your Financial Future

Year 9 Business Studies Managing Money for Life Success

What Are Your Financial Goals?

Think about what you want to buy or achieve: Short-term (next 3 months) Medium-term (6-12 months) Long-term (1+ years)

The Four Pillars of Financial Wellbeing

Earning: How you make money Saving: Money set aside for future goals Spending: Using money for needs and wants Investing: Growing money over time

Short-term vs Long-term Financial Impact

{"left":"Spending all money now: Immediate satisfaction, No savings for goals, Financial stress later","right":"Balancing spending and saving: Some immediate enjoyment, Progress toward goals, Better financial security"}

Budget Creation Challenge

Case Study: Monthly income of $2,000 Goals: Save $300 for laptop (3 months), $1,200 for holiday (1 year) Create a budget using Excel or Google Sheets Include: Needs, Wants, Savings, Investing Justify your choices!

Smart Budgeting Categories

Needs (50%): Rent, food, transport, utilities Wants (30%): Entertainment, dining out, hobbies Savings (15%): Emergency fund, specific goals Investing (5%): Long-term wealth building

Building Your Financial Future

Remember This

A budget is telling your money where to go instead of wondering where it went. – John C. Maxwell