Planning a Budget

This is the first step in planning a budget.

• Spend a lot of money before you budget.

• Set up a budget

• Prepare a checklist of your needs, wants and goals.

• Estimate your income for the month.

One of the components of a family is _______. This gets the biggest share in the family allocation of a family income.

• Food

• Savings

• Education

• Clothes

A plan of how the family income should be spent.

• money

• budget

• allowance

• foods

All are expenses, EXCEPT.

• Internet

• Clothes

• Food

• Extra Income

Fares for MRT, LRT, tricycles, or jeepney.

• Education

• Savings

• Food

• Transportation

A type of fixed expenses that includes electricity, water, telephone, and home cable bills.

• Expenses

• Medical and Dental

• Labor

• Utilities

All are kinds of family expenses, EXCEPT.

• Food

• Clothes

• Utilities

• Salary

_________ is an example of FIXED EXPENSES.

• Utilities

• Food

• Transportation

• Material things

A type of expenses that come irregularly or paid in varying amounts.

• Flexible Expenses

• Fixed Expenses

• Paid Expenses

• Budgeted Expenses

Activity done for enjoyment when one is not working.

• Allowance

• Paid overtime

• Savings

• Recreation