How much money do you spend? How much money can you save? We all need to know these things, but you can’t know them until you build and track a budget. Here is your template for a personal budget to track your income and your expenses and figure out what your budget is and how you can stay within it. This practical Lab not only lets you track you spending, it will help you to understand the basis for building all budgets both personal and business.
Category: Financial Reasoning
Margin vs Markup
How should you figure out your profit? If you have an item that you are selling, should you price it at 25% over its cost to you, or should you price it so that your margin is 25%. Many people think that their profit will be the same either way. Is that true?
Interest
Which form of interest, simple or compound, is the fairest? If you were buying a house or a car which would you rather have, which would you consider fair? Or if you had your money in a bank account earning interest, which would you consider the fairest way to calculate that interest? We will show you how to calculate each and help you think about what is fair as far as interest is concerned.
Credit Cards
How much are your credit cards costing you? If you are like most of us, they are very expensive because we have credit card debt. This Lab will help you to see what your credit cards are costing you and help you to keep track and pay off your credit card debt.
Coffee Money
Are you a coffee drinker? Small daily expenses like coffee can quickly add up. By using spreadsheets to organize cost, you can monitor how much you’re really spending.