SMART Spending Plan
By: Alyssa McCarville
What is a Smart Spending Plan?
A smart spending plan is a specific, measurable, attainable, realistic, and time bound Budget. Specific is when you know exactly what your spending your money on. Measurable is how much you spend or plan to spend for each category of your budget. Attainable is when you are able to make easy or necessary changes to your budget. Realistic is where you have a good amount of money aside for each category of your plan. Good money amounts are not insanely over or under what they normally are. Time bound is how often or when you have to have something payed off. It could be when you pay yourself, rent, car, loans or anything else you have to pay.
Developing a Spending Plan
- 43% of Americans spend more than they earn
- On average Americans spend $1.22 fore every dollar they earn
- Some reasons people over spend are, their getting a paycheck soon, keeping up with the latest, life style maintenance, just can't say no.
- The top 5 thing people are over spending on are weddings, cars, engagement rings, gifts, and mattresses
My Ideas For Our Spending Plan
- Try to go out less often
- Don't play games on the computer and watch Netflix at the same time
- Don't leave games up on the computer all night long
- Get rid of things we don't need
- When we go on vacation try not to buy a lot of things
- Only buy things that we need
- Don't go over the data limit
- Don't leave downstairs heater on
- Turn the computer off every night and when were gone for more than a day