1. Family budgets – what would you need to think about?
Last week we looked at personal budgets and planning shopping.
But if you are a part of a family you need to think about everyone’s budgets.
For the following family work out their annual income.
Family earnings
Mr McNearny: £32,000 a year
Mrs McNearny: £47,250 a year
Jamie McNearny: £19,500 a year
Interest paid on savings
£230 a year
What is income?
What is expenditure?
Income is the amount of money coming in.
Expenditure is the amount of money you pay out.
Worked it out yet?
Total income = £98, 980