Using a Budget pp SECTION

Click to edit Master text styles Second level Third level Fourth level Fifth level 2 SECTION Copyright © Glencoe/McGraw-Hill 3-3 Section Objective Compare: amount budgeted to actual expenditures

Click to edit Master text styles Second level Third level Fourth level Fifth level 3 SECTION Copyright © Glencoe/McGraw-Hill 3-3 expense summary (p. 153) A monthly report that compares the amounts you spend to the amounts you have budgeted. emergency fund (p. 153) Extra monies set aside to be used for unpredictable expenses, such as medical bills and vehicle repairs. Key Words to Know

Click to edit Master text styles Second level Third level Fourth level Fifth level 4 SECTION Copyright © Glencoe/McGraw-Hill 3-3 A Rock Star’s Lyrical Leverage p. 153 List a few “surprise” expenses that you might incur in a year.

Click to edit Master text styles Second level Third level Fourth level Fifth level 5 SECTION Copyright © Glencoe/McGraw-Hill 3-3 At the end of March, the Zornows prepared an expense summary. They had planned to spend $220 on groceries. They actually spent $ How much more or less did they spend on groceries than they had budgeted for? Example 1

Click to edit Master text styles Second level Third level Fourth level Fifth level 6 SECTION Copyright © Glencoe/McGraw-Hill 3-3 Compare. Is the amount spent more or less than the amount budgeted? Is $ more or less than $220.00? More. Example 1 Answer: Step 1

Click to edit Master text styles Second level Third level Fourth level Fifth level 7 SECTION Copyright © Glencoe/McGraw-Hill 3-3 Find the difference. $ – $ = $11.85 more than the amount budgeted Example 1 Answer: Step 2

Click to edit Master text styles Second level Third level Fourth level Fifth level 8 SECTION Copyright © Glencoe/McGraw-Hill 3-3 At the end of September, the Escobars prepared an expense summary. They had planned to spend $210 on transportation. They actually spent $ How much more or less did they spend on transportation than they had budgeted for? Example 2

Click to edit Master text styles Second level Third level Fourth level Fifth level 9 SECTION Copyright © Glencoe/McGraw-Hill 3-3 Is the amount spent more or less than the amount budgeted? Is $ more or less than $210? Less. Example 2 Answer: Step 1

Click to edit Master text styles Second level Third level Fourth level Fifth level 10 SECTION Copyright © Glencoe/McGraw-Hill 3-3 Find the difference. $210 – $ = $12.20 less than the amount budgeted Example 2 Answer: Step 2

Click to edit Master text styles Second level Third level Fourth level Fifth level 11 SECTION Copyright © Glencoe/McGraw-Hill 3-3 The Murrays’ electricity bill for July was budgeted for $88. They actually spent $124. How much more or less did they spend than they budgeted? Practice 1

Click to edit Master text styles Second level Third level Fourth level Fifth level 12 SECTION Copyright © Glencoe/McGraw-Hill 3-3 $36 more Practice 1 Answer

Click to edit Master text styles Second level Third level Fourth level Fifth level 13 SECTION Copyright © Glencoe/McGraw-Hill 3-3 The Zieglers’ entertainment expenses for August were budgeted for $110. They actually spent $ How much more or less did the Zieglers spend than they budgeted? Practice 2

Click to edit Master text styles Second level Third level Fourth level Fifth level 14 SECTION Copyright © Glencoe/McGraw-Hill 3-3 $5.38 less Practice 2 Answer

Using a Budget 3-3 END OF SECTION