2.06 Budgeting concepts
Interactive practice questions
A weekly budget is shown in the table.
| Income | Expenses | ||
|---|---|---|---|
| Earnings | $505 | Mortgage | $147 |
| Electricity | $23 | ||
| Food | $64 | ||
| Council Rates | $22 | ||
| Insurance | $20 | ||
| Water | $64 | ||
| Clothing | $46 | ||
| Entertainment | $56 |
| Income | Expenses | ||
|---|---|---|---|
| Earnings | $505 | Mortgage | $147 |
| Electricity | $23 | ||
| Food | $64 | ||
| Council Rates | $22 | ||
| Insurance | $20 | ||
| Water | $64 | ||
| Clothing | $46 | ||
| Entertainment | $56 |
Calculate the weekly expenses.
Calculate weekly savings.
Calculate the percentage of income saved correct to two decimal places.
Calculate the percentage of income spent on mortgage payments correct to two decimal places.
Calculate the amount paid on the mortgage in one year
James's monthly expenses include:
rent, food, cable TV, travel, insurance, clothing, repairs.
Amelia earns a weekly salary of $723 and receives income from other sources of $126. Her weekly expenses are: rent $199, groceries $51, gasoline $33, electricity $33, telephone $23, magazines $13 and clothes $62. Calculate:
Sally earns $\$610$$610 per week. Her weekly work related expenses are $\$185$$185 on travel and $\$86$$86 on lunch. What percentage of her weekly income goes towards work related expenses? Give your answer correct to two decimal places.