Budgeting

## Budgeting

A budget is a method, usually by using a table, of examining all your incomings (income) and outgoings (expenditure). Normally this is carried out on a month by month basis. the aim of a budget is to make sure that you have enough money to cover all your expenditure.

## Example 1

Naomi has created a table with all her incomings and outgoings.

Complete the table.

 Jan Feb Mar Apr May Jun Income 1530 1530 1530 1530 1530 1530 Rent 950 950 950 950 950 950 Food 240 240 240 240 240 240 Utilities 315 315 Travel 70 70 70 70 70 70 Entertain 55 55 55 55 55 55 Expend 1315 1630 1315 1315 ? ? Balance 215 -100 215 ? ? ?

 Jan Feb Mar Apr May Jun Income 1530 1530 1530 1530 1530 1530 Rent 950 950 950 950 950 950 Food 240 240 240 240 240 240 Utilities 315 315 Travel 70 70 70 70 70 70 Entertain 55 55 55 55 55 55 Expend 1315 1630 1315 1315 1630 1315 Balance 215 -100 215 215 -100 215

## Example 2

Naomi wants to go on holiday at the end of June. The holiday will cost £600.

Will she have enough money left to go on holiday?

Total the balances at the end of each month.

The total comes to £660.

£660 less £600 for the holiday leaves her with £60.