1. In partial fulfilment for our grade in Math7
Prepared By:
Carl Joshua R Reyes
Diona Marie Torres
Prepared For:
Fhe Resaba
2. Family Budgeting is a plan on how family income
should be spent to provide for family needs without
incurring debts or deficits. It’s the parents primary
task to prepare a budgeting plan. However, every
member must also know how the family income is
budgeted. Through family budgeting, family members
learn to spend money wisely, thus, saving money
which could be use for other family needs. Resources
such as time, energy and utilities are also used well
when income is budgeted. It is a financial map that
help families see where their income is really going
each month.
3. A proper household budget is extremely important in
our lives and its absence could lead to many financial
problems.
A well-made, proper household budget has a great
impact on our financial lives. If we do not have one, we
may have to face financial problems of various kinds. A
household budget is all the more important in this
consumer era because it teaches members of the
family the worth of money. It is, indeed, an important
cog in the wheel that runs a house.
4. Once a household budget is in place, it becomes much
easier to bring things under control. It can also teach
younger members of the family the importance of
money, so that they stop wasting money on unnecessary
things. They can utilize this knowledge when they grow
up and start their own families.
Another important benefit of a household budget is that
it can alert you against possible cash flow problems in
the future. For example, it will let you know if you have
more direct debits from your bank account than your
wage can cover. And once alerted, you can then take
some necessary measures, such as seeking a small loan or
overdraft facility to cover the deficit or get in touch with
the concerned companies regarding the direct debits so
that you can change your payment plans. As a household
budget also gives you a clear picture of the money which
is coming into the house, you can then try to increase it
in various ways that suit you – like finding a better job,
seeking a pay rise, or starting a small new business
5. A household budget helps you to identify the areas in
which you spend, and take necessary steps to curtail
expenditure on those items that are non-essential and
unnecessary. Household expenses often spiral out of
control because we have no idea about how the
family’s total outgoings are created. Once a household
budget is in place, it becomes much easier to bring
things under control. It can also teach younger
members of the family the importance of money, so
that they stop wasting money on unnecessary things.
They can utilize this knowledge when they grow up
and start their own families.
6. 1. Basic Needs
-it is the first thing we should consider in family
budgeting. It is the things we need in our daily life
like Foods, Shelter, Clothes.
2. Allowance or Provisions
-A limited amount or portion of income for daily
life like Provisions/Allowance for
Students/Parents that work. Use for buying
foods, beverages and for things that they need.
7. 3. Bills or Utilities
-such as Electric Bills, Water Bills, Telephone
Bills, Internet Bills, Gas which are paid monthly
4. Savings
-the money saved can be used in emergency
situations. Also it can grow in the form of
investments. It can also came from excess money
from different things.
5. Education
-Tuition Fees and school needs such as textbooks
and other supplies constitute expenses that must
be provided for, especially the daily school
allowances.
9. Mr. and Ms. Reyes have 2 children (ages 2 & 6) and
both employed with a monthly salary of P10,000 each
and owning a House.
Out of this they make a Family Budgeting Planner
Here is their Planner
11. With a income of P20,000.00 here is the computation of
their expenses:
-Basic Needs
20,000 x 30% = P6000.00
-Allowance
20,000 x 24% = P4800.00
P50(allowance per day) x 3(father, mother & child) x
30(days per month) = P4500/P4800-the excess money
is advisable to put or to add in the savings if not
needed.
12. -Bills or Utilities
20,000 x 17% = P3400.00
For Bills or Utilities P3400 is a very good amount.
P1500 (Electric and Water Bills)+P700(Gas)+P1200
(Internet and Telephone Bills) = P3400
-Savings
20,000 x 15% = P3000.00
-Education
20,000 x 17% = P1400.00
For Education P1400.00 is a very good amount. If your
child is studying in a private school this is how it works
P1000(tuition per month)+P400(textbooks and other
school supplies)=P1400
13. -Transportation
20,000 x 7% = P1400.00
For transportation P1400 is a very good amount. Here is
the reason
If all of you in a family is commuting this is its
computation
P7-for student P8-for adults
P7 x 2(morning & afternoon) x 30(days per month)=
P420(for the 6 years old child)
P8 x 2(morning & afternoon) x 2(father & mother) x
30(days per month)= P960
P960 + P420 = P1380/P1400
Therefore P1400 is a very good amount for
Transportation because If all of you in a family is
commuting this is its computation: total expenses =
P1380/P1400-the excess money is advisable to put or to
add in the savings if not needed.
14. Overall:
P6000.00+ P4800.00 + P3400.00 +P3000.00+ P1400.00 +
P1400.00 = P20,000
Note: If there’s an excess money it is advisable to put or
to add in the savings if not needed.
15. 1.
2.
3.
4.
5.
6.
Know your income
Determine which expenses are needed to be record
Base the budget on a system of priorities
Have a record of expenses
Do the family budgeting planner. Use only the
allotted many for each expenses and as long as
possible don’t get extra money from savings to fulfil
a budget for a expense.
If there’s an excess money it is advisable to put or to
add in the savings if not needed to use.
16. Step 1: Find the part.
Each item to be graphed represents a part of the whole. To
complete the circle graph, you must find exactly what
fraction or percent each item represents. The easiest way to
do this is to take the quotient of the part and the whole and
then convert the result to a percent.
STEP 2: Find the degrees for each part.
Every circle is made up of 360 degrees. To find the angle
measure for each item, use this formula:
angle measure for an item =percent of the item represented
x 360 degrees.
Applying step 1 and 2, we have the following table:
17. Expenses
Percent
Decimal
Degrees
Basic Needs
30%
0.30
0.30 x 360 = 108
Allowance
24%
0.24
0.24 x 360 = 86.4
Bills or Utilities
17%
0.17
0.17 x 360 =61.2
Savings
15%
0.15
0.15 x 360 = 54
Education
7%
0.07
0.07 x 360 =25.2
Transportation
7%
0.07
0.07 x 360 = 25.2
18. STEP 3: Draw the parts.
Draw a circle and a radius. Use a protractor to draw each
angle. Each new angle may be measured from the
previously drawn line segment. Draw the angles from
largest to smallest in clockwise direction.
STEP 4: Label each part of your group.
Sales
Basic Needs
Bills or Utilities
Education
Allowance
Savings
Transportation
7%
15%
30%
24%
7%
17%