Budget Components Cloze Notes
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Budget Components Cloze Notes
📚 Part 1: Budget Components Notes
_____________ - _____________ = Money Left Over
Income: Money you _____________ (allowance, gifts, jobs)
Expenses: Money you _____________ (toys, snacks, activities)
Savings: Money you _____________ for future purchases
🧮 Part 2: Budget Calculations
Income: $50.00 allowance + $_______ from chores = $65.00 total income
Expenses: $20.00 savings + $25.00 spending = $_______ total expenses
Money left over: $65.00 - $45.00 = $_______
If your expenses are _____________ than your income, you need to adjust your budget.
If your income is _____________ than your expenses, you have money left over.
Weekly allowance: $12.00
Money spent on snacks: $8.00
Money left to save: $12.00 - $8.00 = $_______
📊 Part 3: Budget Analysis
Tracking spending helps you see where your _____________ goes and helps you make _____________ choices about money.
A good rule is to save at least _______% of your income and spend no more than _______% on wants (fun items).
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