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Components of a Budget

VS-6-FL-S-2/3

I CAN explain the purpose of a budget and define the basic components (parts).

http://www.handsonbanking.org/HOB_teens_en.html
Grade 6 Family # 1 2 3 4 5 6

3 Parts of a Budget:
Þ INCOME
Þ EXPENSES
Þ SAVINGS
 
How much do Mom and Dad make? $_____________________
How much are our taxes? 25%$_____________________
How much do we have left after taxes? $_____________________
How much can/will my family spend for:
Tithes to the church? 10% $_____________________
Health, Vision and Dental Insurance? $_____________________
RECC = $150 $_____________________
Water/Sewer = $25 $_____________________
Phone/Internet/Cable TV $_____________________
Groceries $200 per person $_____________________
Cell Phone/s $_____________________
Shelter/Home $_____________________
Vehicle/s & Insurance $_____________________
Gas $200 per vehicle $_____________________
How much can we SAVE? $_____________________
How much do we have left? $_____________________