Concept of the Month

Concept of the Month: Make a Money Pie

Janet Redwine Bank, Programs Leave a Comment

Share This Article

Make a Money Pie!

The key to financial well-being is to spend less than you earn. Sometimes that can be more difficult than it sounds, so you should always make a budget and stick to it!

A budget is a plan for using income productively. There are many things that you can use your money for, but for this exercise, we divide it into fourMoney Pie Chart Iconography: Save, Spend, Donate, and Invest. The key to financial well-being is to spend less than you earn. Sometimes that can be more difficult than it sounds, so you should always make a budget and stick to it!

A budget is a plan for using income productively. There are many things that you can use your money for, but for this exercise, we divide it into four different categories:

Saving: money for emergencies, such as medical bills or your car breaking down, and big ticket items such as college, a house, or new laptop.

Spending: money for wants, like clothes, music, and movies, and needs, like food and shelter.

Investing: money for investments, like stocks, businesses, or property, that gain in value over time so that you have more when you are older.

Sharing: money to help other people or the world in which you live, such as charities and other causes.

Learning how to create a budget and stick to it is a great way to develop good money habits. different categories:

$ Saving: money for emergencies, such as medical bills or your car breaking down, and big ticket items such as college, a house, or new laptop.

$ Spending: money for wants, like clothes, music, and movies, and needs, like food and shelter.

$ Investing: money for investments, like stocks, businesses, or property, that gain in value over time so that you have more when you are older.

$ Sharing: money to help other people or the world in which you live, such as charities and other causes.

Learning how to create a budget and stick to it is a great way to develop good money habits.

Here’s a fun worksheet to get you started!

 

Leave a Reply

Your email address will not be published. Required fields are marked *