Module 1: Budgeting Basics

Master Your First Paycheck

What is Budgeting?

Budgeting is the process of creating a plan to spend your money. It helps you:

  • Track income and expenses
  • Make informed decisions
  • Achieve financial goals
  • Avoid overspending

Core Components

Income

  • Salary
  • Wages
  • Investments

Expenses

  • Housing
  • Food
  • Transport

50/30/20 Rule

50% Needs

Essential expenses

30% Wants

Lifestyle choices

20% Savings

Future security

Level 1 Preview

  • $1000 monthly budget
  • Balance expenses
  • Start emergency fund
  • Meet basic needs

Tips for Success

Do's

  • Track expenses
  • Save first
  • Plan ahead

Practice Now

Ready to apply what you've learned?

Start Level 1 →