Author: stephaniecrockett

Sources

http://money.howstuffworks.com/personal-finance/budgeting/10-tips-for-staying-on-budget.htm
http://www.dummies.com/how-to/content/how-to-create-a-monthly-budget.html
http://www.cicmoney101.org/Articles/Paying-For-College-How-To-Make-A-Budget.aspx
http://www.4faculty.org/includes/108r1.jsp
Managing your Personal
Finances, Joan S. Ryan

Stephanie Crockett

Phone: 585-944-1519
Fax: 555-565-5345
E-mail: StephanieCrockett@rocketmail..com

Stephanie Crockett

President of financial guidance program

Budgeting and record keeping seminar

Held at Lake Shore High School
22980 East Thirteen Mile Road St. Clair Shores, MI 48082

Tel: 586-944-1519

Preparation

Record keeping and
Contracts

Responsibilities and spending

Budgeting is a very important task, especially when you are making the transition from teenage years towards adulthood. Here are some tips and things you need to know in order to budget wisely.
Setting goals:
You should have a pretty good idea of your spending habits. Maybe you'd like to spend less or manage your money differently. Taking the next step and preparing a budget will help make your financial visions more clear.
Climbing the ladder:
There are steps to preparing a budget. Four easy steps include
Estimate your total expected income
Estimate your expenses, for instance things like lunches, fees, clothing, ect.
Decide how much you'd like to save
Balance your budget.

Record Keeping:
Some personal records include a Net worth statement, which shows a persons net worth based on his or her assets and liabilities. Income and expenses records. Income records are things such as statements from banks or statements from investment companies. Expense items include receipts and medical bills.
Contracts:
Contracts are legally enforceable agreements between two or more people. Common legal agreements include credit accounts, mortgage loans, and rental agreements.
Contract elements:
Some contract elements are needed for a contract to be legally binding which means those who enter this contracts must abide by the terms. These elements include: Agreement, consideration, contractual capacity, and legality.
Agreement:
A contract becomes a legal agreement when a valid offer is made and accepted . When the offer is changed it may be considered a counteroffer.

Responsibilities:
Money comes with responsibility, and budgeting can help build that. College students like you will be learning how to balance school, finances, and possibly work. It is important to be aware of what your spending and make an effort to save money.
Spend less save more:
Categorize your expenses to see where you can cut back. Your list may be categorized into sections of essentials and extras, otherwise known as fixed and variable expenses. See what variable expenses may be easy to get rid of and try to cut spending wherever you can.

Stephanie Crockett

Phone: 585-944-1519
Fax: 555-565-5345
E-mail: StephanieCrockett@rocketmail..com