Personal Budgets

Match the following

• B. An expense that differs from month

• Variable Expense

• D. A plan that is used to determine how

• Fixed Expense

• C. An expense that is the same amount

• Income

• A. The amount of money earned over a

• Budget

Categorize which expenses are fixed and which are variable.

Groups:

(a) Fixed Expense

,

(b) Variable Expense

• Gym Membership

• Fuel

• Cost of daycare

• Property Payment

• Entertainment

• Morgage/Rent

• Groceries

• Shopping

• Personal Care

• Medical Bills

• Loan Payment

• Netflix bill

If his take home pay is $2500 each month, what is the percentage of his rent?

• 32%

• 40%

• 80%

• 16%

If his take home pay is $2500 each month, what is the percentage of his food?

• 15%

• 16%

• 18%

• 25%

If his take home pay is $2500 each month, what is the percentage of his Utilities?

• 12%

• 5%

• 10%

• 25%

If his take home pay is $2500 each month, what is the percentage of his car payment?

• 32%

• 12%

• 16%

• 13%

If his take home pay is $2500 each month, what is the percentage of his gas?

• 5%

• 8%

• 10%

• 16%

Which payments are fixed and which ones are variable?

Groups:

(a) Fixed Expenses

,

(b) Variable Expenses

• Food

• Car Payment

• Utilities

• Gas

• Rent

5) What percent of his monthly budget do his transportation costs account for?

• 13%

• 450%

• 45%

• 18%

6) What percent of his monthly budget has Ryan allocated for his fixed expenses?

• 63%

• 40%

• 45%

• 50%