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Advanced Budgeting — Part 3
You do not have to know everything to begin. You are on step 161 of your CEO journey.
Today you will explore Advanced Budgeting and finish with one action you can use in real life.
Simple explanation
• Advanced Budgeting helps you make money decisions with real numbers instead of guesses.
• A strong first move is to list the money coming in, the money going out, and what remains.
• You are looking for a calculation you can explain and check, not a perfect answer on the first try.
Real-world example
Jordan sells handmade bookmarks for $4 each. After adding paper, ribbon, and packaging costs, Jordan checks how many sales are needed to reach the goal.
Vocabulary
Revenue: all the money a business receives from sales.
Cost: money spent to create and deliver a product or service.
Profit: the money left after costs are subtracted from revenue.
Watch this lesson video
What I Learned From 100 Days of Rejection
TED — Jia Jiang · 15 min — Hearing "no" is part of building something. Here is how to make it easier.
Take five minutes to list the money coming in, the money going out, and what remains. Keep it small enough to finish today, then circle the part that taught you the most.
Worksheet
Three-question quiz
CEO challenge
Use Advanced Budgeting once today. Show your work to a trusted adult, teacher, customer, or teammate and ask, “What is one thing I could make clearer?”
Reflection
What did Advanced Budgeting help you notice, and what will you do differently the next time?
