Wissen-Haus Youth Empowerment Foundation

Learning Objectives

Build a simple monthly budget
Track spending categories
Identify areas to cut costs

A budget is not a restriction—it is a plan for your money. Learn to create a realistic budget that reflects your priorities, track your spending, and adjust as your life changes.

Module Quiz

1. The 50/30/20 budget rule splits income into:

Savings, investing, spendingNeeds (50%), wants (30%), and savings/debt (20%)Rent, food, everything elseBusiness, personal, government

2. The most important reason to track your spending is:

To feel guilty about what you spendTo understand where your money goes and make intentional choicesTo impress others with your disciplineTracking is not important

3. When your expenses exceed your income, you should:

Ignore the problemIdentify non-essential spending to cut and look for ways to increase incomeBorrow to make up the differenceStop making a budget

Module 2: Creating Your First Budget