Read & Listen: Budgeting & Financial Planning
OVERVIEW
On this page, you will read about budgets.
- First, read the text.
- Then, listen to audio of the text.
READ & LISTEN
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Read:
It is a good idea to understand your income and expenses. This helps you know how much money you get each month, and the total of the bills you need to pay. This can help you know if you have any extra money to save for things you want.
You can use a register to keep track of the money in your bank account. A register is a list of deposits and withdrawals; you write down all of the money that you put in your account and take out of your account. It is important to check the balance before you spend money.
Planning what you will do with your money is called financial planning. If you make a financial plan, you can get more of the things you want in life with the money that you earn. A plan, or a budget, helps you to decide how to spend your money. Without a plan, you may buy things you want but don’t need. Then, you will not have enough money for things you need.