YEAR 8: PREPARING A BUDGET MODIFIED

Use the following words to fill the gaps in the sentences below. Cross the
word out when you have used it.
BUDGET ELECTRICITY LOAN
SPEND INCOME WAGES
SAVINGS RENT EXPENSES
MONEY JOB POCKET

A ______________ is used by people to estimate how much ________they will receive and

how money they will ________ over a certain period of time. A budget has two parts. The first

part is a list of the ________ a person earns. There are many different kinds of income. An

example is _________. People with a _______earn wages. Another example is pocket

money. Some children get paid _______ money by their parents for helping around the house.

The second part of a budget is a list of what the person spends their money on. This is a list fo

the persons _____________. An example is food. Another example is ____________ or

_____________. If a person has a ______from the bank, they will have to repay the loan. This

also needs to go in the budget.

If a person has money left over after paying all their expenses, it is called __________. The

person can use this to buy something special. This could be a new computer game, a book or

some music.