# CTE Resource Center - Verso - Economics and Personal Finance Task 1064065658

CTE Resource Center - Verso

Virginia’s CTE Resource Center

Develop a personal budget.

Definition

Development of a personal budget should include
  • paying yourself first
  • writing a statement of short- and long-term financial goals
  • creating a plan for managing one’s money over a short period of time
  • outlining a long-term plan for managing money
  • creating an emergency fund.
Budget should allow for discretionary income (e.g., what is available after paying for essentials) and take into account the impact of cost-of-living increases and inflation.

Other Related Standards

FBLA Competitive Events and Activities Areas

Economics

 

Introduction to Business

 

Personal Finance