Getting started up again. A certain amount of griping about the professor.Tonight, we’re starting and completing Chapter 1. No class next week; review the President’s FY 2008 budget. Go to the OMB website to find it.
Great deal of concern right now over U.S. currency weakness and budget deficits.
Chapter 1:
Income – Expenditures = Surplus or Deficit
Budget is a plan for how you’ll use your resources.
Typical Budget Questions:
- How much money do I have to spend?
- How do I want to spend it?
- What items are mandatory spending, and what items are discretionary spending?
- Can I afford what I want to do?
- Am I willing to borrow?
- Can I make the monthly payments? (And is it OK to borrow money in order to pay my annual debt?)