Bugetting

The Task Ms Masters earns a salary of J$40,000 severally calendar month after all statutory deductions concord 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 water system 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 work out for Ms Masters that would account for the of necessity of each(prenominal) person in the family. If an Item is not in the work out, bounciness 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 explicit over a period of one month. After adding up all your sources of income, you have established the total amount of money you have to spend. succeeding(prenominal) to tal 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 requirement 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 beat buying, i.e. buying items that you do not loss or harbourt planned to buy. Benefits of a Budget in force(p) budgeting would closely likely gain these benefits: 1. The family will become much financially stable as areas of waste will be eliminated. 2. currency will be readily assistable whenever an chance arises such as accidents. 3. Family will now be hold in spite of appearance their means as it relates to having what they need as sound as a little money put aside. A common Budget usually consists of: * Rent/Mortages * Food and Drink * ava il bills * Medical Expenses * Ente! rtainment * 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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