Bugetting

The Task Ms Masters earns a salary of J$40,000 severally calendar month after all statutory deductions celebrate been made. She is a single parent with two shaverren ages 2 long time 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 pee 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 compute for Ms Masters that would account for the necessarily of each(prenominal) person in the family. If an Item is not in the reckon, take a hop 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 bills you have to spend. succeeding(prenominal) total all o f your individual monthly expenses. This whitethorn paradigm from your rent or mortage right down to a insouciant snack or newspaper. Your budget can be as simple or complex as you arrest 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 pulse rate buying, i.e. buying items that you do not motive or oasist planned to buy.

Benefits of a Budget in force(p) budgeting would to the highest degree likely gain these benefits: 1. The family will become much fin ancially stable as areas of waste will be el! iminated. 2. cash will be readily overhaulable whenever an chance arises such(prenominal) as accidents. 3. Family will now be hold at bottom their means as it relates to having what they need as sound as a little money put aside. A ordinary 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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