1. First year Business Studies
Household Budget
First year Business Studies

2. Starting Question
We always start with cash on hand in this question. It is entered twice at the bottom of our answer page
495
495

3. Income This is an account of all the money that the family receives
It is usually made up of wages, child benefit and possibly something like interest from a bank.
It is usually given in the from of each individual in the family

4. Typical Example

5. Planned Expenditure
This is made up of all three categories of expenditure that the family might have:
Fixed
Irregular
Discretionary

6. Fixed Expenditure

7. Irregular Expenditure

8. Discretionary Expenditure

9. Total Expenditure
Our three subtotals are added to give us our total expenditure

10. Calculating our net cash
This is subtracting out total income and expenditure 25
-500 85
1015
625
495
520 20
105
495
520 20
105
1120
1120