Write a reflection about your learning in this unit. Your reflection should be at least three sentences. Use the following sentence starters as a guide. I feel confident about developing a budget because… It is challenging to understand income statements and balance sheets because… Choices that I make today could result in... One way that I could manage through a loss of income would be… Budgeting and creating a financial plan can help me achieve my short-term and long-term goals by... I understand how to figure out net income on my paystub by subtracting from gross income …
I feel confident about developing a budget because I have learned how to identify and track my income and expenses. It is challenging to understand income statements and balance sheets because they involve different financial terms and calculations that are not familiar to me. Choices that I make today could result in financial stability or instability in the future, so it is important to make wise decisions and plan for unexpected events. One way that I could manage through a loss of income would be to cut back on non-essential expenses and explore alternative sources of income. Budgeting and creating a financial plan can help me achieve my short-term and long-term goals by allowing me to prioritize my spending, save money, and invest in opportunities that align with my objectives. I understand how to figure out net income on my paystub by subtracting deductions and taxes from gross income.
