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CAPS Module 25 Student name: Date: MODULE 25 Understand the process of preparing a budget and prepar

CAPS Module 25 Student name: Date: MODULE 25 Understand the process of preparing a budget and prepar 2025

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Module 25 focuses on understanding the budgeting process, emphasizing the importance of creating a personal budget to manage income and expenses effectively. It outlines steps for defining short- and long-term goals, estimating available cash, and planning expenses. The module provides guidance on maintaining a daily record of cash flow, setting up budget categories, and adjusting the budget as needs change. Additionally, it includes student activities to reinforce learning about budgeting concepts.

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What are the 4 components of a budget in order?

There are 4 major components of budgeting: Set Financial Goals. Create Your Budget. Track Your Spending. Make Adjustments.

What are the steps in preparing a budget worksheet?

How to Create a Budget in 8 Steps Determine Your Income. Assess Your Expenses. Track and Adjust Your Spending. Subtract Your Expenses from Your Income. Set Your Financial Goals. Determine Your Budget Strategy. Build Your Budget. Review Your Budget Regularly.

What are the 4 steps in preparing a budget?

How to make a student budget Step 1: Choose where to make your budget. You can make a budget on a piece of paper or in a notebook. Step 2: List your monthly income. List the money you have coming in each month. Step 3: Track your monthly spending. Step 4: Balance your budget.

What is the process of preparing a budget?

8 key budgeting process steps Review the previous period. Calculate existing revenue. Set out fixed costs. List variable costs. Forecast extra spending. Scrutinise cash flow. Make business decisions. Communicate it clearly.

What are the 4 steps of the budget process?

This resource outlines key elements of each budget phase, how they affect you, and key information sources to learn more. The budget process has four main phases: (1) formulation, (2) congressional action, (3) execution, and (4) audit1.

What are 4 steps to better budgeting?

Four steps to better budgeting Get organized. Establish a budget. Take control of your debt. Start by calculating your debt-to-income ratio, which can help you manage your current financial obligations and also plan for the future.

What is step 4 of planning a budget?

Step 4: Make a budget plan Organize your fixed and variable expenses based on your research. Then add line items for your savings goals. The budget plan lets you see how your income and spending line up.

CAPS Module 25 Student name: Date: MODULE 25 Understand the process of preparing a budget and prepar 2025

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