1 press ctrl-a ©g dear2009 – not to be sold/free to use budget evaluation stage 6 - year 11...

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1 Press Ctrl-A Press Ctrl-A ©G Dear2009 – Not to be sold/Free to use Budget Evaluation Budget Evaluation Stage 6 - Year 11 Stage 6 - Year 11 Applied Mathematic (Preliminary General 1)

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Page 1: 1 Press Ctrl-A ©G Dear2009 – Not to be sold/Free to use Budget Evaluation Stage 6 - Year 11 Applied Mathematic (Preliminary General 1)

1Press Ctrl-APress Ctrl-A

©G Dear2009 – Not to be sold/Free to use

Budget EvaluationBudget EvaluationStage 6 - Year 11Stage 6 - Year 11

Applied Mathematic(Preliminary General 1)

Page 2: 1 Press Ctrl-A ©G Dear2009 – Not to be sold/Free to use Budget Evaluation Stage 6 - Year 11 Applied Mathematic (Preliminary General 1)

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Budgeting takes:

Planning Discipline

Looking Forward Looking Back

A Budget is . . .

Your Financial Plan.

Page 3: 1 Press Ctrl-A ©G Dear2009 – Not to be sold/Free to use Budget Evaluation Stage 6 - Year 11 Applied Mathematic (Preliminary General 1)

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•Have a realistic written record of your budget.•Regulate spending based on income.•Have a realistic written record, i.e. keep records.•Spread out expenses.•Don’t rely on overtime or 2nd jobs.

•Set Goals: needs and wants.

•Make up your mind and stick to it.

•Don't run for cover if in trouble due to unexpected illness, accident or mishap .

•Don't be afraid to alter your plan if it can be improved

Page 4: 1 Press Ctrl-A ©G Dear2009 – Not to be sold/Free to use Budget Evaluation Stage 6 - Year 11 Applied Mathematic (Preliminary General 1)

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•Remember the place of credit in money management:

(i) needs vs. wants (two different questions)

(ii) can you afford credit?

(iii) credit is not - a way of beating your budget. 

100 top tips for tough times

Page 5: 1 Press Ctrl-A ©G Dear2009 – Not to be sold/Free to use Budget Evaluation Stage 6 - Year 11 Applied Mathematic (Preliminary General 1)

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1. Housing

2. Automobile

3. Credit Card

Page 6: 1 Press Ctrl-A ©G Dear2009 – Not to be sold/Free to use Budget Evaluation Stage 6 - Year 11 Applied Mathematic (Preliminary General 1)

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Fortnightly Income Fortnightly Expenditure

Net Wages $800.00Gifts $27.50Bank Interest $6.00Overtime $250.00

Rent $380.00Food $120.00Electricity $35.00Petrol $120.00Telephone $32.00Mobile $49.50Credit Card $75.00Entertainment $100.00

Savings (Balance) $172.00

$1083.50 $1083.50Total Income Total Expenditure

NoteIncome = Expenditure

This is a Balanced Budget

Page 7: 1 Press Ctrl-A ©G Dear2009 – Not to be sold/Free to use Budget Evaluation Stage 6 - Year 11 Applied Mathematic (Preliminary General 1)

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Fortnightly Income Fortnightly Expenditure

Net Wages $800.00Gifts $27.50Bank Interest $6.00Overtime $250.00

Rent $380.00Food $120.00Electricity $35.00Petrol $120.00Telephone $32.00Mobile $49.50Credit Card $75.00Entertainment $100.00

Savings (Balance) $172.00

$1083.50 $1083.50Total Income Total Expenditure

QuestionIs it a good budget?

No! No! No!

BadBad

BadBad

Page 8: 1 Press Ctrl-A ©G Dear2009 – Not to be sold/Free to use Budget Evaluation Stage 6 - Year 11 Applied Mathematic (Preliminary General 1)

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Fortnightly Income Fortnightly Expenditure

Net Wages $800.00Gifts $27.50Bank Interest $6.00Overtime $250.00

Rent $380.00Food $120.00Electricity $35.00Petrol $120.00Telephone $32.00Mobile $49.50Credit Card $75.00Entertainment $100.00

Savings (Balance) $172.00

$1083.50 $1083.50Total Income Total Expenditure

QuestionWhy are they bad?

Not reliable income sources

BadBad

BadBad

Page 9: 1 Press Ctrl-A ©G Dear2009 – Not to be sold/Free to use Budget Evaluation Stage 6 - Year 11 Applied Mathematic (Preliminary General 1)

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Fortnightly Income Fortnightly Expenditure

Net Wages $800.00

Bank Interest $6.00Overtime $250.00

Rent $380.00Food $120.00Electricity $35.00Petrol $120.00Telephone $32.00Mobile $49.50Credit Card $75.00Entertainment $100.00

Savings (Balance) $172.00

$806.00 $1083.50Total Income Total Expenditure

BadBad

NoteIncome < Expenditure

This is a Tragic Budget

Page 10: 1 Press Ctrl-A ©G Dear2009 – Not to be sold/Free to use Budget Evaluation Stage 6 - Year 11 Applied Mathematic (Preliminary General 1)

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Fortnightly Income Fortnightly Expenditure

Net Wages $800.00

Bank Interest $6.00

Rent $380.00Food $120.00Electricity $35.00Petrol $110.00$110.00Telephone $32.00Mobile $49.50Credit Card $75.00Entertainment $0.00$0.00

Savings (Balance) $4.50$4.50

$806.00 $806.00Total Income Total Expenditure

NoteIncome = Expenditure

This is a GoodBalanced Budget

Make adjustments.