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From this list, what are the top 3 things you currently spend your money on?

Snacks	Coffee/Beverages
Rides with Uber/Lyft	Clothes/Shoes
Public Transportation	Take Out Food (Uber Eats, Grubhub)
Phone	Subscriptions (Netflix, Disney +, Hulu, Peacock)
Video Games	Other (What is it?)

Do Now:

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Key Takeaway

In order to manage my finances wisely, I will need to determine my priorities and keep track of my spending.

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Often times, what you need to spend, and what you want to spend—will come into conflict.

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Needs	Wants

Housing
Utilities
Internet
Phone Bill
Streaming (ex: Netflix)
Coffee
Health Insurance
Food (groceries)
Food (fast food & snacks)
Gym Membership
Public Transit Card
College Tuition

IDENTIFYING NEEDS VS. WANTS

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Needs	Wants

Housing
Utilities
Internet
Phone Bill
Streaming (ex: Netflix)
Coffee
Health Insurance
Food (groceries)
Food (fast food & snacks)
Gym Membership
Public Transit Card
College Tuition

IDENTIFYING FIXED VS. VARIABLE EXPENSES

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Creating a Budget

Determine your income
Identify your expenses
Determine which expenses are Needs vs. Wants
Determine which expenses are Fixed vs. Variable
Create Budgeting Goals — (try to put 20% into savings but this may not always be possible)
Re-evaluate your budget monthly or more often if needed

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Turn and Talk: Your Budget

You are a sophomore in college and work part-time (~25 hours per week) at the campus bookstore.

You make ~$1250 per month after taxes. You are on your parent’s health insurance.

You live with 3 of your friends.

Your share of costs includes:

$650 Rent
$25 Internet
$75 to $100 utilities

�What does the rest of your budget look like?

Total Income:	$1,250
Fixed Expenses
Housing/Rent	$650
Health Insurance	$0
Internet	$25
Phone Bill	$

Variable Expenses
Transportation	$
Gas/Water/Electric	$75 to $100
Entertainment	$
Other: _______	$
Groceries	$
Savings	$
Total Amount Spent

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Turn and Talk: Your Budget

Your landlord will be raising your rent.

You must pay an extra $100 a month.

How would you adjust your budget?

Total Income:	$1,250
Fixed Expenses
Housing/Rent	$750
Health Insurance	$0
Internet	$25
Phone Bill	$

Variable Expenses
Transportation	$
Gas/Water/Electric	$75 to $100
Entertainment	$
Other: _______	$
Groceries	$
Savings	$
Total Amount Spent

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Mentor Connection

What is your high and low for the week?

My high point is…

My low point is…

2. How are you feeling about creating a budget for yourself?

I am feeling ____ about creating a budget for myself, because…

3. Ask your mentor the following:

Did you have any financial responsibilities after high school, how did you handle them?

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EXTEND: Check Your Emails

Check your email/school portals for post-secondary program updates.

Follow up with any asks!

Be sure to check the email you

used to apply!