1. How should we manage our personal finances? 132 2. How can we prepare a budget? . . . . . . . . . 132 3. How can we prepare a detailed household budget? . . . . . . . . . . . . . . . . . . . . . . 134
4. How can we revise a budget to include . . . . . savings? . . . . . . . . . . . . . . . . . . . . . 138
5. How can we prepare a budget for a full year? . 139 6. How can we revise a budget if our . . . . . . . . circumstances change? . . . . . . . . . . . . 142
Jason can dream about all the things he would like to buy – or would like his parents to buy for him. However, like most people, the Foleys don’t have enough money to buy everything they want. Instead, they have to budget their money to make sure they have enough to cover all their basic needs. Budgeting is a key skill which helps you to be financially wise and prevents you from getting into debt.
I’d love a new bike, and a new football kit, and maybe a holiday to the US. I’d love if we had a bigger house so that I could have a bigger bedroom and a music studio down the garden.
