BTLED-EN 102

MODULE 3

JOVELYN A. CANTILA BTLED-HE IV

Activity no. 3

Write T for true and F for false in the space provided before each

statement. If false, write the correct answer in the line given below each

question.

1. T Budget is the process of allocating income among various uses.

2. T Family goals affect the budget.

3. T A budget forces you to decide what is more important than the

other.

4. F A budget can’t help in achieving long term goals.

A budget can help in achieving long term goals.

5. T Budgeting helps in the management of your finance.

6. T The main purpose of a budget is to allow you to live within your

income.

7. F Income of the family member does not influence the budget.

Income of family members influences the budget.

8.T Making a budget helps in saving money.

9. T Major amount from the income is spent on food.

10. T Income brings money into a family while expenditure takes money out so that it is not
available for anything else.
Make a simple spending plan for the following families:

a) A family of four consisting of the parents and two children aged 12 and 17 years. They
live in a rented house. The father gets a salary of 5,000.

INCOME ESTIMATED AMOUNT

5,000

All Expenses The real amount upon actual spending

Food & Groceries 2,000

School allowance 1,000

Rent 1,000

Water Bill 500

Electric Bill 500

TOTAL 5,000

Savings Remaining money will be the savings.

 b) A family of six, grandparents, parents and two school going children 8 years and 12
years old. They live in a village and have a small farm which brings them an income of
3,000. The school in the village does not charge any fees from its student.

INCOME ESTIMATED AMOUNT

3,000

All Expenses The real amount upon actual spending

Food & Groceries 1,000

Maintenance medicine for 500

grandparents

School supplies 500

Water Bill 500

Electric Bill 500

TOTAL 3,000

Savings Remaining money will be the savings.