Creating and Reading Budgets 💰
Name: _______________________________
Date: _______________________________
Part A: Weekly Budget for Alex
Alex has a part-time job and receives pocket money. Complete the budget table below:
| Income | Amount ($) |
|---|---|
| Part-time job | $45.00 |
| Pocket money | $15.00 |
| Total Income | __________ |
| Expenses | Amount ($) |
|---|---|
| School lunches | $20.00 |
| Entertainment (movies, games) | $12.00 |
| Transport | $8.50 |
| Total Expenses | __________ |
Savings: Total Income − Total Expenses = __________
Part B: Monthly Budget for the Williams Family
Complete the missing values in this monthly household budget:
| Income | Amount ($) |
|---|---|
| Parent 1 salary | $3,200.00 |
| Parent 2 salary | $2,850.00 |
| Total Income | __________ |
| Expenses | Amount ($) |
|---|---|
| Rent/mortgage | $1,800.00 |
| Groceries | $650.00 |
| Utilities (power, water, internet) | $320.00 |
| Transport (petrol, bus passes) | $240.00 |
| Insurance | $180.00 |
| Entertainment and other | $450.00 |
| Total Expenses | __________ |
Savings: Total Income − Total Expenses = __________
Part C: Questions
1. What percentage of the Williams family's monthly income is spent on rent/mortgage? __________%
2. If Alex wants to save $25 per week, what expense could they reduce? _________________________________
3. Is it important to track income and expenses? Explain why: ___________________________________________
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