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Merge pull request #50184 from MicrosoftDocs/NEW-apply-budgeting-method
New apply budgeting method -> main
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‎learn-pr/philanthropies/apply-budgeting-method/1-introduction.yml

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### YamlMime:ModuleUnit
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uid: learn.philanthropies.apply-budgeting-method.introduction
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title: Introduction
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metadata:
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title: Introduction
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description: This content is a part of the Apply a budgeting method to manage money effectively.
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ms.date: 04/01/2025
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author: kprks
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ms.author: v-kperkes
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ms.topic: unit
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durationInMinutes: 5
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content: |
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[!include[](includes/1-introduction.md)]

‎learn-pr/philanthropies/apply-budgeting-method/2-budgeting-methods-overview.yml

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### YamlMime:ModuleUnit
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uid: learn.philanthropies.apply-budgeting-method.budgeting-methods-overview
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title: Budgeting methods overview
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metadata:
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title: Budgeting Methods Overview
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description: This content is a part of the Apply a budgeting method to manage money effectively.
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ms.date: 04/01/2025
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author: kprks
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ms.author: v-kperkes
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ms.topic: unit
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durationInMinutes: 15
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content: |
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[!include[](includes/2-budgeting-methods-overview.md)]

‎learn-pr/philanthropies/apply-budgeting-method/3-knowledge-check.yml

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### YamlMime:ModuleUnit
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uid: learn.philanthropies.apply-budgeting-method.knowledge-check
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title: Knowledge check
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metadata:
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title: Knowledge Check
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description: Answer the following questions to see what you learned.
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ms.date: 04/01/2025
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author: kprks
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ms.author: v-kperkes
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ms.topic: unit
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durationInMinutes: 3
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quiz:
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questions:
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- content: What is zero-based budgeting?
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choices:
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- content: A method where every dollar is assigned a purpose.
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isCorrect: true
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explanation: Correct!
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- content: A plan that doesn't involve saving.
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isCorrect: false
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explanation: Not quite. Zero-based budgeting includes saving.
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- content: Spending money without a plan.
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isCorrect: false
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explanation: Incorrect. Zero-based budgeting requires careful planning.
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- content: A rule where you save half of your money.
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isCorrect: false
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explanation: Incorrect. That's not how zero-based budgeting works.
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- content: In the 50/30/20 budgeting method, what percentage is allocated to savings? Following is a need?
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choices:
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- content: Fifty percent
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isCorrect: false
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explanation: Incorrect. Needs take up 50 percent.
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- content: Thirty percent
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isCorrect: false
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explanation: Incorrect. Wants take up 30 percent.
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- content: Twenty percent
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isCorrect: true
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explanation: Correct! Savings are allocated 20 percent.
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- content: Ten percent
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isCorrect: false
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explanation: Incorrect. Savings should be 20 percent, not 10 percent.

‎learn-pr/philanthropies/apply-budgeting-method/4-why-budgeting-methods-are-helpful.yml

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### YamlMime:ModuleUnit
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uid: learn.philanthropies.apply-budgeting-method.why-budgeting-methods-are-helpful
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title: Why budgeting methods are helpful
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metadata:
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title: Why Budgeting Methods are Helpful
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description: This content is a part of the Apply a budgeting method to manage money effectively.
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ms.date: 04/01/2025
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author: kprks
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ms.author: v-kperkes
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ms.topic: unit
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durationInMinutes: 10
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content: |
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[!include[](includes/4-why-budgeting-methods-are-helpful.md)]

‎learn-pr/philanthropies/apply-budgeting-method/5-put-your-budgeting-skills-into-action.yml

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### YamlMime:ModuleUnit
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uid: learn.philanthropies.apply-budgeting-method.put-your-budgeting-skills-into-action
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title: Put your budgeting skills into action
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metadata:
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title: Put your budgeting skills into action
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description: This content is a part of the Apply a budgeting method to manage money effectively.
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ms.date: 04/01/2025
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author: kprks
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ms.author: v-kperkes
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ms.topic: unit
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durationInMinutes: 10
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content: |
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[!include[](includes/5-put-your-budgeting-skills-into-action.md)]

‎learn-pr/philanthropies/apply-budgeting-method/6-check.yml

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### YamlMime:ModuleUnit
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uid: learn.philanthropies.apply-budgeting-method.check
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title: Knowledge check
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metadata:
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title: Knowledge Check
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description: Answer the following questions to see what you learned.
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ms.date: 04/01/2025
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author: kprks
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ms.author: v-kperkes
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ms.topic: unit
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durationInMinutes: 5
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quiz:
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questions:
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- content: Which budgeting method is best described as "giving every dollar a purpose"?
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choices:
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- content: Pay-Yourself-First Budgeting
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isCorrect: false
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explanation: Incorrect. This method focuses on saving first.
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- content: 50/30/20 Budgeting
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isCorrect: false
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explanation: Incorrect. This method divides money into categories but doesn't allocate every dollar.
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- content: Zero-Based Budgeting
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isCorrect: true
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explanation: Correct! Zero-based budgeting assigns a specific purpose to every dollar.
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- content: Envelope System Budgeting
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isCorrect: false
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explanation: Incorrect. This method focuses on using envelopes for spending categories.
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- content: In the 50/30/20 rule, what are the three main categories?
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choices:
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- content: Needs, Wants, and Debt.
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isCorrect: false
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explanation: Incorrect. Debt isn't one of the primary categories in the 50/30/20 rule.
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- content: Needs, Debt, and Savings.
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isCorrect: false
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explanation: Incorrect. Debt isn't part of the original 50/30/20 structure.
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- content: Needs, Wants, and Savings.
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isCorrect: true
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explanation: Correct! These are the three categories in the 50/30/20 rule.
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- content: Needs, Savings, and Investments.
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isCorrect: false
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explanation: Incorrect. Investments aren't explicitly part of this method.
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- content: What is one benefit of the envelope system budgeting method?
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choices:
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- content: It helps track digital transactions.
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isCorrect: false
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explanation: Incorrect. The envelope system is a hands-on, cash-based method.
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- content: It visually shows how much money is left in each category.
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isCorrect: true
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explanation: Correct! The envelopes give a clear visual representation of your spending.
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- content: It automatically balances your budget.
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isCorrect: false
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explanation: Incorrect. This method requires manual management of envelopes.
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- content: It splits your money into percentages.
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isCorrect: false
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explanation: Incorrect. That's more aligned with the 50/30/20 method.

‎learn-pr/philanthropies/apply-budgeting-method/7-summary.yml

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### YamlMime:ModuleUnit
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uid: learn.philanthropies.apply-budgeting-method.summary
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title: Summary
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metadata:
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title: Summary
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description: This content is a part of the Apply a budgeting method to manage money effectively.
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ms.date: 04/01/2025
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author: kprks
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ms.author: v-kperkes
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ms.topic: unit
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durationInMinutes: 2
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content: |
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[!include[](includes/7-summary.md)]

‎learn-pr/philanthropies/apply-budgeting-method/includes/1-introduction.md

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> [!VIDEO https://learn-video.azurefd.net/vod/player?id=5eb4a865-da16-4a8b-89ef-d9ce91445b2f]
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Have you ever wished your money could last longer or help you save for something special? Budgeting methods are like tools to make the most of your money, helping you cover your needs, save for goals, and plan for the unexpected. Let's explore some popular budgeting methods and find out how to choose one that works best for you!
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Reflection Activity: Think about how you currently spend your money. Do you make a plan for it, or do you spend it as you get it? How could budgeting change your habits?
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Just like you might use different tools to solve different problems, budgeting methods are tools that help you handle your money. Each method has its own strengths and ways of making sure your money works for you. Some methods focus on saving first, while others help you stay disciplined by keeping track of every dollar. Learning about these methods won't only help you spend wisely today but will also build habits that can help you throughout your life.
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Here's what we explore today:
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1. **Zero-Based Budgeting** - A way to give every dollar a purpose.
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1. **Pay-Yourself-First Budgeting** - Prioritizing your savings before anything else.
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1. **The Envelope System** - A visual and hands-on way to manage spending.
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1. **50/30/20 Budgeting** - A simple rule to balance your needs, wants, and savings.
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Each of these methods can help you make the most out of what you have, whether it's allowance, chore money, or gifts from family. By the end of this lesson, you'll have the tools to pick a method that fits your goals and lifestyle.

‎learn-pr/philanthropies/apply-budgeting-method/includes/2-budgeting-methods-overview.md

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#### Zero-Based budgeting
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- Every dollar you have is assigned a "job."
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- Benefits: Helps you stay in control of your money by ensuring nothing is unplanned.
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- Example: If you have 20 dollars, you might assign 10 dollars to savings, 5 dollars to snacks, and 5 dollars to activities.
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:::image type="content" source="../media/zero-based-budgeting.png" alt-text="Screenshot of a section explaining zero-based budgeting." lightbox="../media/zero-based-budgeting.png":::
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Ask Copilot Activity:
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1. Consider a career you would love to have in the future.
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1. Open Microsoft Copilot.
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1. Prompt Copilot for the average salary of that career by typing "What is the average salary for a [insert dream job] in [your state]?"
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1. Review the salary information.
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- Look at the yearly and monthly earnings Copilot provides.
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1. Prompt Copilot to create a zero-based budget by typing "Using the average salary of a [dream job], can you create a zero-based budget where every dollar is assigned to a category?"
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1. Review the budget Copilot generates.
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1. Adjust the budget to fit your lifestyle goals.
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- Ask Copilot: "What happens if I save more each month?" or "Can you adjust this budget to include student loan payments or extra savings?"
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1. Write down or save your budget.
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#### Pay-Yourself-First budgeting
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- Prioritize saving money before spending on anything else.
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- Benefits: Builds a habit of saving and ensures you focus on future goals.
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:::image type="content" source="../media/pay-yourself-first.png" alt-text="Screenshot of a section explaining the pay yourself first strategy." lightbox="../media/pay-yourself-first.png":::
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Reflection Activity: Why is saving first important?
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#### Envelope System budgeting
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- Use envelopes labeled with spending categories to visually manage money.
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- Benefits: Helps limit overspending and makes budgeting tangible.
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:::image type="content" source="../media/envelope-system-budgeting.png" alt-text="Screenshot of an explanation of the Envelope System Budgeting method." lightbox="../media/envelope-system-budgeting.png":::
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### Microsoft designer activity: AI-Powered Budgeting with Virtual Envelopes
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#### Instructions
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1. **Open Microsoft Designer**
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- Go to [Microsoft Designer](https://designer.microsoft.com/) and **log in** with your Microsoft account.
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1. **Create a New Design**
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- Click **“Start from scratch”** or choose a **template** that fits a financial theme.
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- In the **search bar**, type “envelope” to find a layout that works for a virtual budgeting envelope.
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1. **Design Your Virtual Envelopes**
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- Create separate digital envelopes labeled:
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1. 🏠 **Needs** (Rent, groceries, utilities)
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1. 🎉 **Wants** (Entertainment, dining out, shopping)
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1. 💰 **Savings** (Emergency fund, investments, future goals)
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- Assign a **budgeted amount** to each envelope based on your estimated monthly income.
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1. **Customize Your Envelopes**
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- Use **Microsoft Designer's AI-powered tools** to generate visuals that match each category.
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- Add **icons, colors, or images** to make your envelopes visually appealing and easy to understand.
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- Adjust text, font, and layout to personalize your design.
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1. **Review & Save**
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- Ensure your budget is **realistic and balanced** by adjusting the allocation if needed.
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- Click **Download** or **Save to OneDrive** for future reference.
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1. **Reflect on Your Budgeting Choices**
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- Consider:
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1. Are you allocating enough to savings?
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1. Do you need to reduce spending in one area?
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1. How can you improve your financial planning with AI insights?
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#### 50/30/20 Budgeting
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- Divide income into 50% needs, 30% wants, and 20% savings.
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- Benefits: A simple formula for balanced spending and saving.
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:::image type="content" source="../media/saving-needs-wants.png" alt-text="Screenshot of saving for needs and wants." lightbox="../media/saving-needs-wants.png":::
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Ask Copilot Activity:
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1. Think about another career you may want to have when you become an adult.
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1. Open Microsoft Copilot.
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1. Ask for the average salary of that job by typing: "What is the average salary for a [insert dream job] in [your state]?"
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1. Review the salary information provided by Copilot.
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1. Ask Copilot to apply the 50/30/20 rule to a sample budget by typing: "Using the average salary of a [dream job], can you create a 50/30/20 budget that divides income into needs, wants, and savings?"
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1. Review the budget Copilot generates, which divides the salary into 50% for needs, 30% for wants, and 20% for savings or debt repayment.
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1. Check if your wants exceed 30% of your income.
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1. Ask Copilot for suggestions on adjustments by typing: "What changes can I make if my wants exceed 30% of my budget?"
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1. Modify your budget based on the adjustments Copilot suggests.
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1. Write down or download your budget for future reference.

‎learn-pr/philanthropies/apply-budgeting-method/includes/3-knowledge-check.md

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Choose the best response for each question.

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