38 Chapter 2 Making Smart Decisions
Savings and Your Budget
You need to include savings in your budget if you want to have cash
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provides an important financial cushion in case of job loss, disruption to
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purchases and medium- and long-term goals. It is a good idea to include
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how much money you will need. If the trip will cost $360, figure out how
much you will need to save per month or per week to pay for the trip.
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need to save $72 each month.
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of weeks in five months. You will need to save $18 per week.
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you need and when you need it. When you build savings into your budget,
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important goals in your future.
Charitable Giving as an Expense
A charity usually refers to an organization that aids those in need, such as
the homeless or victims of natural disasters. Philanthropy is the act of giving
money, goods, or services to meet the needs of others and support organizations
and causes that are important to you. You may choose to donate to causes of
your choice or to volunteer your time and talents. To determine how much you
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It pays to investigate before you give. Some charitable organizations are
more efficient and effective than others. Some groups may pose as charities
but use the funds they collect for personal gain. Be sure to send your money
to the group that will make the most effective use of it.
Analyze Current Income and Spending
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record of spending almost always turns up some surprises and some unnecessary
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the amounts equal? Do you have money left over? If you have nothing left or if
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windows, reorganize closets and cabinets, or do some yard work?
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considered job opportunities in your community? Ask friends, coaches,
neighbors, and store managers about job possibilities.
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to work more hours without sacrificing time you need for schoolwork
and other important activities?
Bookkeepers
Bookkeepers update
and maintain accounting
records. They calculate
expenditures, receipts,
accounts payable and
receivable, and profit
and loss. They may also
handle payroll, make
purchases, prepare
invoices, and keep track
of overdue accounts.