Financial Literacy 20, 30

(a)	Describe the role and importance of budgeting in financial planning for personal and other uses (e.g., organization, club and small-scale event).
(b)	Provide examples of the types of income (e.g., employment, gifts, awards and scholarships) and expenses (e.g., fixed and variable) typically included in a personal budget.
(c)	Discuss the importance of tracking income and expenses over a period of time prior to developing a personal budget.
(d)	Identify reasons why people fail to follow budgets.
(e)	Discuss pitfalls of living beyond one’s means.
(f)	Provide examples of the types of income and expenses that might be included in a non-personal budget (e.g., organization, club and small-scale event).
(g)	Discuss the concept of opportunity cost in determining how to spend money.
(h)	Develop a simple budget for self or for another use (e.g., organization, club and small-scale event).
(i)	Summarize how budgets will evolve and change as one moves through various life stages.
(j)	Examine various cultural, community or religious perspectives on budgeting.