In Business studies we are learning about budgeting and what it is. When we first learnt about it we had to do a couple of activitys about what is budgeting and now we are doing this blog post for out report for business studies. For this blog post we have to chose 1 activity out of 2 of them and I chose the second one because it is much easier. The activity I chose was you have to make a budgeting language dictionary explaining what each term is and how it relates to budgeting.
Here is my budgeting language dictionary.
Budget - Budget is where you have money available to spend. If you dont have a limit its important because it helps you limit your odds of going into a deficit.
Spend - Spend is where you buy something using money for example you have to give money to pay for goods or services otherwise you don't get it. If you want a house, a car or something you have to give the money to the owner to be able to purchase it.
Savings - Savings it where you have extra money that you haven't spent yet, If you have spend the money you have for your budget it is always good to have saving because then you can use it.
Price - Price is the amount of money expected to be given to the owner that is selling the product or something else that has a price on it.
Needs - Needs is something that is essential to your life for example you need education to get somewhere in life you may not want it but you really need it in the real world, you need to be good at maths, spelling reading and the essential things you need to know.
I think I did quiet good because I wrote heaps of information to help people understand what each word meant. I got some of this information from dictionary.com for reference and then I put it into my own words.
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Fantastic work Tyson. You have included some really good explanations of what each of the key words means. You have included some really good information and good job on making sure that you put the work in your own words.
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