Bugetting

The Task Ms Masters earns a salary of J$40,000 severally month after all statutory deductions conserve been made. She is a single parent with two shaverren ages 2 days and 14 years who both live with her. She gets J$5,000 per month for child support. She pays J$7,000 per month for rental, uses both electricity and urine and has a loan with a furniture store for which she pays J$516 per year. She does not have a landline telephone. 1. Prepare a periodical cypher for Ms Masters that would account for the postulate of each(prenominal) person in the family. If an Item is not in the budget, derail a reasonable ex final causeation of how that need would be met. Pre- Preparation What is a Budget? A (home) budget is a financial plan of ones income and expenses, usually express over a period of one month. After adding up all your sources of income, you have established the total amount of specie you have to spend. succeeding(prenominal) total all of your individual monthly expenses. This may paradigm from your rent or mortage right down to a insouciant snack or newspaper. Your budget can be as simple or complex as you essential it to be. Purposes of a budget Individuals plan/make a budget in localize to: 1. guide and organize ones spending 2. recognize and decline areas of overspending and waste 3. avoid desire buying, i.e. buying items that you do not fate or seaportt planned to buy.

Benefits of a Budget in force(p) budgeting would around likely gain these benefits: 1. The family will become much financially stable as areas of waste will be e liminated. 2. specie will be readily ! applyable whenever an chance arises such(prenominal) as accidents. 3. Family will now be hold within their means as it relates to having what they need as sound as a little money put aside. A natural Budget usually consists of: * Rent/Mortages * Food and Drink * avail bills * Medical Expenses * Entertainment * Household supplies A typical budget may be exclusive of: * Accessories * Foot wear * Pocket...If you want to get a full essay, order it on our website: OrderCustomPaper.com

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