Budgeting Basics

The fifth episode of the “Cash Class” series looks at the essentials of building a powerful and effective personal budget, including setting realistic goals and establishing a healthy budgeting mindset.

This video was specifically designed to address all of the Learning Indicators of Outcome FL10.5, and serve as a real-life scenario companion piece to the Building Futures in Saskatchewan curriculum correlations.

We’ve all had that moment where a paycheque evaporates into iced coffees, impulse buys and mystery “FunbutUnwise” charges. In this instalment, we strip budgeting down to the essentials: distinguishing needs (bus pass, rent, school supplies) from wants (Uber rides, fancy sneakers) and using a simple three‑question test before spending. Viewers learn to set short‑, medium‑ and long‑term goals and to break big goals into manageable weekly savings targets. We discuss budgeting tools—from pen‑and‑paper to apps and spreadsheets—and emphasize building an emergency fund so unexpected expenses don’t derail your plans. Finally, we remind viewers that a budget isn’t about deprivation—it’s about making room for what matters.

Reflection question: What’s one thing you’re saving for, and which small purchase could you swap or skip to reach that goal faster?