Answer:

Questions:

• Do you have a budget? Are you able to stick to it all of the time/some of the time/none of the time? 
• How would you answer this question for yourself: What are the purchases that cause you to overspend? 
• Take 2 or 3 items from the top 10 list and explain why that specific item leads to overspending. 
  • Explain strategies that you could use to control spending in those categories.

Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom.

Behind the numbers (CNBC):

Many people struggle with overspending regardless of how much they earn, according to certified financial planner Josh Nelson, founder and CEO of Keystone Financial Services in Loveland, Colorado.

“I’ve heard ‘I don’t know where all the money goes’ from people who make a gazillion dollars and from poor college students and everyone in between,” Nelson said.

-----------------

Our NEW! budgeting game, Money Magic, will be released on Thursday, January 23rd. Look for it in the NGPF Arcade! 

-----------------

About the Author

Tim Ranzetta

Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.