MEC 108 Notes – 01/05/2020

Module 2 - Budgeting and Living Independently

Be Strategic

 A financial goal is a target to aim for when

managing your money. It can involve solving,
spending, earning or even investing. Creating
a list of financial goals is vital to creating a
budget. When you have a clear picture of
what you’re aiming for, working towards your
target is easy.

Financial Freedom

1. Learn how to manage money

2. 2. Clean up your finances
3. Be smart about your career choice
4. Learn about your investment options
Moderate-risk: Mutual Funds
High-risk: Stock Market
Long-term: Real Estate
Track Your Money (Spending Within Limits)
5. Be active in your journey to financial freedom Tracking your money is the process of monitoring and
keeping

Budgeting

Budgeting is the process of creating a plan to spend

your money. This spending plan is called a budget.
Creating this plan allows you to determine in advance
whether you will have enough money to do

50% needs, 30% wants, 20% savings, set aside your

savings first
Living Independently

Independent Living means the ability to examine

alternatives and make informed decisions

Eight Essential Costs to Consider When Living

Independently

Expense Tracking: a screenshot of income and

expenses and transfer transaction (from bank to
bank), screenshot and then paste sa word.

T/F, MC, Short budgeting case (same sa group na

budgeting case)
Or Net Income