When we think about our expenses we often lump them all together without thinking about where we can cut costs. Obviously, there are wants and needs when it comes to expenses. The problem is we think of things like cable TV and the internet as a need. This can lead to a lopsided budget that can never meet our baseline or goals. This module focuses on how to categorize expenses so we can see areas where we can make cuts with minimal impact on the family. This allows us to balance our budget and bring ourselves in a position to afford more wants. While some cuts will hurt a bit at first, the benefits later pay off.
Watch the enclosed video and share your thoughts with your classmates.Fill out your workbook sheet for expenses and post it to the discussion so everyone can look at your thoughts and processes to enhance the discussion.
For the assignment submit your workbook in its entirety. You should be working on the same workbook as you did in the first session.