Question

1. Take a moment to reflect on the process of creating your personal budget. What was the most challenging part of creating your budget? Did you take the time to track your spending? What did you discover about your spending? How does it feel to have a plan for your spending? (2 points)

Answer 1

The most challenging part is to make sure you follow the budget even when I took the time to track my expenses. Also, you learn there are unexpected expenses but having a budget makes you feel confident.

What was the most challenging part of creating your budget?

Last year, I created a budget for a trip, and the most difficult part was both thinking about all the elements in the budget and tracking all the expenses before and during the trip.

Did I take the time to track my spending?

I took the time to track my spending by checking the budget every time I spent money for the trip.

What did I discover about spending?

I discovered there are some unexpected expenses I had not considered such as renewing my passport or paying taxes.

How does it feel to have a plan?

Having a plan makes me feel confident about spending money because I have control of it.

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