Title: Prepare a personal budget.
Course: Agricultural Business Fundamentals I (18201-I) > Section: Managing Financial Records and Reports

Preparation should include

- a statement of short- and long-term goals
- a plan for managing money over a short- and long-term period
- a plan that allows for discretionary income and takes into account the cost-of-living increases.

Process/Skill Questions:

- What kinds of items fall into the short-term budget category? Long-term budget category?
- What resources are available to help prepare a personal budget?
- What are some strategies to help one maintain a budget?
- What items would fall into discretionary income? How can maintaining a budget prepare one for unexpected expenses?