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CanadaON
Grade 12

Budgeting

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
a

Calculate the weekly expenses.

b

Calculate weekly savings.

c

Calculate the percentage of income saved correct to two decimal places.

d

Calculate the percentage of income spent on mortgage payments correct to two decimal places.

e

Calculate the amount paid on the mortgage in one year

Easy
5min

James's monthly expenses include:

rent, food, cable TV, travel, insurance, clothing, repairs.

Easy
< 1min

Amelia earns a weekly salary of $723 and receives income from other sources of $126. Her weekly expenses are: rent $199, groceries $51, gas $33, electricity $33, telephone $23, magazines $13 and clothes $62. Calculate:

Easy
3min

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.

Easy
1min
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Outcomes

12C.B.3.3

Design, explain, and justify a monthly budget suitable for an individual or family described in a given case study that provides the specifics of the situation (e.g., income; personal responsibilities; costs such as utilities, food, rent/mortgage, entertainment, transportation, charitable contributions; long-term savings goals), with technology (e.g., using spreadsheets, budgeting software, online tools) and without technology (e.g., using budget templates)

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