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  • Lesson 3 ALLOCATION OF BUDGET FOR BASIC AND SOCIAL NEEDS

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    Anna Liza R. OLorvida
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    A family's budget should allocate funds to cover basic needs like food, shelter, clothing, education, and utilities, as well as social needs like health, recreation, and savings. The document provides an example breakdown of a monthly budget that allocates 40% to food, 30% to shelter, 15% to utilities, 10% to clothing, and 5% each to education and household operations.

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    A family's budget should allocate funds to cover basic needs like food, shelter, clothing, education, and utilities, as well as social needs like health, recreation, and savings. The document provides an example breakdown of a monthly budget that allocates 40% to food, 30% to shelter, 15% to utilities, 10% to clothing, and 5% each to education and household operations.

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    11 views1 page

    Lesson 3 ALLOCATION OF BUDGET FOR BASIC AND SOCIAL NEEDS

    Uploaded by

    Anna Liza R. OLorvida
    A family's budget should allocate funds to cover basic needs like food, shelter, clothing, education, and utilities, as well as social needs like health, recreation, and savings. The document provides an example breakdown of a monthly budget that allocates 40% to food, 30% to shelter, 15% to utilities, 10% to clothing, and 5% each to education and household operations.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    Download as docx, pdf, or txt
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    Lesson 3 ALLOCATION OF BUDGET

    FOR BASIC AND SOCIAL NEEDS

    Components or Elements of a Family


    Budget
    Food - groceries, raw and cooked food,
    staples, condiments, and spices
    Shelter - if not renting, includes taxes, repair, and
    maintenance
    Clothing - uniforms, clothes, and accessories
    Education - tuition fees, books, daily food,
    transportation allowance of children
    Household operations - things needed in the
    house, beddings, curtains, furniture, and other
    paraphernalia to make members comfortable Step 1 : Change percent into
    Utilities - electric, water, and telephone bills, gas, decimal
    Health - medicine, check-up
    Recreation - family outings, outside dining, Food = 40 % x ₱ 25,000.00
    watching movies. Step 2 : Multiply percent by monthly
    Savings - the amount set aside or deposited in the income
    bank.
    Food = .40 x ₱ 25,000.00

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