[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"detail-sidebar-cat-1-en-105":3,"doc-seo-243320-105":53,"doc-detail-243320-en":130},{"code":4,"msg":5,"data":6},0,"success",[7,14,19,24,29,34,39,44,49],{"id":8,"doc_module":9,"doc_module_name":10,"category_name":11,"show_sort_weight":12,"slug":13},11,1,"Template","Presentations",90,"presentations",{"id":15,"doc_module":9,"doc_module_name":10,"category_name":16,"show_sort_weight":17,"slug":18},12,"Resumes",80,"resumes",{"id":20,"doc_module":9,"doc_module_name":10,"category_name":21,"show_sort_weight":22,"slug":23},14,"Invoices",70,"invoices",{"id":25,"doc_module":9,"doc_module_name":10,"category_name":26,"show_sort_weight":27,"slug":28},15,"Posters",60,"posters",{"id":30,"doc_module":9,"doc_module_name":10,"category_name":31,"show_sort_weight":32,"slug":33},16,"Social Media",50,"social-media",{"id":35,"doc_module":9,"doc_module_name":10,"category_name":36,"show_sort_weight":37,"slug":38},17,"Forms",40,"forms",{"id":40,"doc_module":9,"doc_module_name":10,"category_name":41,"show_sort_weight":42,"slug":43},18,"Letters",30,"letters",{"id":45,"doc_module":9,"doc_module_name":10,"category_name":46,"show_sort_weight":47,"slug":48},21,"Paper Templates",5,"papers-templates",{"id":50,"doc_module":9,"doc_module_name":10,"category_name":51,"show_sort_weight":4,"slug":52},158,"General","general-158",{"code":4,"msg":54,"data":55},"ok",{"site_id":56,"language":57,"slug":58,"title":59,"keywords":60,"description":61,"schema_data":62,"social_meta":123,"head_meta":125,"extra_data":127,"updated_unix":129},105,"en","budgeting-and-managing-your-money-part-3-how-to-create-a-budget","Budgeting and Managing Your Money - Part 3 - How to Create a Budget","","Part 3 focuses on managing money through budgeting and good financial habits. It explains how to start once funds are stored safely, and how clear goals make budgeting easier by providing direction and motivation. The section defines what a budget does, contrasts staying within budget versus going over it, and provides step-by-step guidance to create a realistic plan, including goal setting, income listing, savings and expense categorization, and budget revision when needed.",{"@graph":63,"@context":122},[64,80,101],{"@type":65,"itemListElement":66},"BreadcrumbList",[67,71,74,77],{"item":68,"name":69,"@type":70,"position":9},"https://docshare.wps.com","Home","ListItem",{"item":72,"name":10,"@type":70,"position":73},"https://docshare.wps.com/template/",2,{"item":75,"name":11,"@type":70,"position":76},"https://docshare.wps.com/template/presentations/",3,{"item":78,"name":59,"@type":70,"position":79},"https://docshare.wps.com/template/budgeting-and-managing-your-money-part-3-how-to-create-a-budget/243320/",4,{"url":78,"name":59,"@type":81,"image":82,"author":87,"headline":59,"publisher":90,"fileFormat":93,"inLanguage":57,"description":61,"dateModified":94,"datePublished":95,"encodingFormat":93,"isAccessibleForFree":96,"interactionStatistic":97},"DigitalDocument",{"url":83,"@type":84,"width":85,"height":86},"https://docshare.wps.com/thumbnails/budgeting-and-managing-your-money-part-3-how-to-create-a-budget/243320.png","ImageObject",442,249,{"name":88,"@type":89},"Arica Lee","Person",{"url":68,"name":91,"@type":92},"DocShare","Organization","application/pdf","2026-10-20","2026-09-12",true,{"@type":98,"interactionType":99,"userInteractionCount":30},"InteractionCounter",{"@type":100},"ViewAction",{"@type":102,"mainEntity":103},"FAQPage",[104,110,114,118],{"name":105,"@type":106,"acceptedAnswer":107},"What is the purpose of a budget according to Part 3.1?","Question",{"text":108,"@type":109},"A budget tracks cash coming in and cash going out, indicates how much money must be saved to reach goals, and helps manage expenses so bills can be covered.","Answer",{"name":111,"@type":106,"acceptedAnswer":112},"What is the difference between short-term and long-term goals?",{"text":113,"@type":109},"Short-term goals can be met within the next year, while long-term goals require more funds or time and are usually reached in 1 to 10 years.",{"name":115,"@type":106,"acceptedAnswer":116},"How should income be classified when creating a budget?",{"text":117,"@type":109},"List incomes by sources and distinguish fixed income (regular amounts) from variable income (irregular or changing amounts).",{"name":119,"@type":106,"acceptedAnswer":120},"What categories of expenses does Part 3.1 include?",{"text":121,"@type":109},"It covers cost of living items and groups expenses as regular vs. irregular, and fixed vs. variable, with examples for each type.","https://schema.org",{"og:url":78,"og:type":124,"og:title":59,"og:site_name":91,"og:description":61},"article",{"robots":126,"canonical":78},"index,follow",{"doc_id":128,"site_id":56},243320,1791158312,{"code":4,"msg":5,"data":131},{"doc_id":128,"user_id":132,"nickname":88,"user_avatar":133,"doc_module":9,"category_id":8,"category_name":11,"doc_title":59,"doc_description":61,"doc_content":134,"file_id":135,"file_url":136,"file_type":137,"file_size":138,"view_count":30,"is_deleted":4,"is_public":9,"is_downloadable":9,"audit_status":9,"page_count":15,"language":139,"language_code":57,"site_id":56,"html_lang":57,"table_of_contents":140,"faqs":141,"seo_title":142,"seo_description":61,"update_tm":143,"read_time":79},8796096645457,"https://ap-avatar.wpscdn.com/avatar/800003749518d68ffe3?x-image-process=image/resize,m_fixed,w_180,h_180&k=1779345340919836971","The purpose of Part 3 is to provide information on how to properly manage money using budgetsand good financial habits. Once your money is in a safe place, you can start thinking about how to make smart decisions to support your goals. Goals can make budgeting and managing your money easier as they create something to work towards and look forward to. Saving for the future is important and so is enjoying the present, so it’s good to find a balance!  \nContents  \n▪ Part 3.1: How to create a budget ................................ 2  \n▪ Part 3.2: Goal setting ................................................... 5  \n▪ Part 3.3: Budget example ............................................ 6  \n▪ Part 3.4: Managing your budget.................................. 9  \n▪ Part 3.5: Gig work, commissioned work and seasonal work .....................................................10  \n▪ Activity: Goal setting .................................................. 11  \nPart 3.1: How to create a budget What is a budget?  \nA budget:  \n▪ Tracks your cash coming in (income) and cash going out (expenses and savings contributions)  \n▪ Indicates the money you need to save to reach your goals  \n▪ Helps you manage your expenses to make sure you have money to cover your bills  \nStaying within your budget vs. Going over your budget  \n\n| Staying within your budget | Going over your budget |\n| --- | --- |\n| ▪ Better control over your finances | ▪ Debt |\n| ▪ Staying on track to reach your financial goals | ▪ Unnecessary bank fees if expenses are not covered |\n\nThis information is not meant to suggest that budgeting is a solution to poverty.  \nSteps to create a budget  \n1. Create goals for yourself and keep them in mind  \nBudgeting your money starts with having a goal and purpose for your budget. The purpose can be as simple as wanting to keep better track of your expenses. Savings goals are an important part of creating a budget so you have something to look forward to.  \nSavings goals can be personal or collective (money to share with family or community).  \nSeparate your needs from your wants:  \n▪ Needs are things you cannot survive without.  \n▪ Wants are the extras in life.  \nGoal setting can include both needs and wants:  \n▪ Think about what you want your future to look like and the things you like to do.  \n▪ This includes both the present and future, including your older years.  \nUnderstand the difference between short-term and long-term goals:  \n▪ Short-term goals are goals that can be met in the next year. Example: Purchase a new winter jacket.  \n▪ Long-term goals are goals that require more funds or time. They are usually reached in 1 – 10 years. Example: Buy a new car.  \nGoals differ depending on who you are, what is important to you, your culture and your history.  \nExamples of goals that someone who acquires a lump sum of money may have:  \n▪ Education: Education can be an expensive journey. It’s never too late to attend any level of schooling, and acquiring funds can be the first step.  \n▪ Starting a business: Receiving a large sum of money can begin your journey of starting a business by helping with supplies or rental building fees.  \n▪ Paying off debts  \n▪ Helping family or your community  \n▪ Housing: Funds could be used to help you move, make home repairs or qualify for a mortgage.  \n▪ Doing something nice for yourself: This could include travelling, buying something you previously could not afford or buying something that makes your life easier (e.g. a car to get to work or school) .  \n2. List your incomes  \nIncome = Money received or cash coming in  \nSources of income include regular money coming in as well as funds that vary and one-time payments.  \nExamples of sources of income:  \n▪ Employment  \n▪ Investment returns  \n▪ Inheritance  \n▪ Gift  \n▪ Unexpected events (lottery)  \n▪ Government income  \n– Consistent payments such as child benefits, a pension  \n– One-time payments such as an on-reserve per capita distribution Fixed vs. Variable income","cbCainaah2mRXHHs","https://ap.wps.com/l/cbCainaah2mRXHHs","pdf",326267,"English","# Part 3.1: How to create a budget\n## What is a budget?\n## Staying within your budget vs. going over your budget\n## Steps to create a budget\n# Part 3.2: Goal setting\n# Part 3.3: Budget example\n# Part 3.4: Managing your budget\n# Part 3.5: Gig work, commissioned work and seasonal work\n# Activity: Goal setting","[{\"question\":\"What is the purpose of a budget according to Part 3.1?\",\"answer\":\"A budget tracks cash coming in and cash going out, indicates how much money must be saved to reach goals, and helps manage expenses so bills can be covered.\"},{\"question\":\"What is the difference between short-term and long-term goals?\",\"answer\":\"Short-term goals can be met within the next year, while long-term goals require more funds or time and are usually reached in 1 to 10 years.\"},{\"question\":\"How should income be classified when creating a budget?\",\"answer\":\"List incomes by sources and distinguish fixed income (regular amounts) from variable income (irregular or changing amounts).\"},{\"question\":\"What categories of expenses does Part 3.1 include?\",\"answer\":\"It covers cost of living items and groups expenses as regular vs. irregular, and fixed vs. variable, with examples for each type.\"}]","Budgeting and Managing Your Money - Part 3 - How to Create a Budget | PDF",1789202657]