- Type Certification
- Level Foundational
- Time Hours
- Cost Free
Budgeting Basics
Issued by
Federal Reserve Bank of St. Louis
Learn the basics of budgeting by learning about three key topics. As you learn, you will earn badges for each of the key topics.
- Type Certification
- Level Foundational
- Time Hours
- Cost Free
Skills
- Analyze a net worth statement
- Analyze a prepared budget
- Apply knowledge of expenses to a prepared budget
- Assess the impact of buy assets using borrowed money
- Calculate net worth
- Differentiate between assets and liabilities
- Differentiate between fixed variable and periodic expenses
- Differentiate between short-term and long-term goals
- Differentiate between stock and flow variables
- Explain how SMART goals are Specific Measurable Attainable Realistic and Time-related
- Explain how to budget for a periodic expense
Earning Criteria
Standards
A budget helps people achieve their financial goals by allocating income to necessary and desired spending, saving, and philanthropy.