Question

Case/Exercise 14 A young student will not normally have all the obligations of a family person. Taking this into consideration, prepare a simple budget using your factual situation. What did the budget exercise tell you?

Answer 1

Montly Budget:

Hair cut- $10/-
Audible -$10/-
Movies -$20/-
Foodoutside + snacks - $50
Facewash,shampoo, soap,
Body lotion, cosmetics:- $10
Electronic items + stationary - $30
Clothes - $25
Mobile Bill - $10
Other expenses -$20

Total Expenditure- $185

Pocket money (Avilable funds) -$150

The above budget teaches the use of proper money management and utilisation of available funds. The expenditure needs to be diverted to more productive and useful places rather than not necessary expenditure.
non-necessary expenditure can be reduced like Food outside + snacks, Electronic items + stationary.