Instructions
Complete the following exercises about money management and financial literacy.
1. Definitions
Provide a brief definition for the following terms:
2. Budgeting Exercise
Imagine you have a monthly income of $500. Estimate your monthly expenses by filling out the table below:
| Expense Category | Amount |
|---|---|
| Rent: | |
| Utilities: | |
| Groceries: | |
| Transportation: | |
| Entertainment: |
3. Reflection
After estimating your expenses, reflect on how much money you can save each month. Write your thoughts below:
4. Financial Goals
List three financial goals you would like to achieve in the next 5 years:
5. Saving Tips
Write down two tips for saving money that you think would be helpful: