Family Bdget

ppt on Family budget

1. FAMILY BUDGET WORK EDUCATION PROJECT
2020-21

2. Name:
Class/Sec :
Roll no. : INTRODUCTION

3. WHAT IS FAMILY BUDGET? A  family budget  is a system that shows how your money (aka your income) is distributed between different expenses, like rent, car payments, and credit card payments.

4. WHY TO PLAN A FAMILY BUDGET?? A family budget is essential to managing your money.That’s because a family budget helps you: spend your money wisely on the things you must have – these are your  needs save money for the things you like but can live without – these are your  wants set aside money for  unforeseen expenses  – for example, if your car breaks down and needs repairs stop accidental overspending . Working out how much money you need for everyday essentials like food, housing, utilities like gas, electricity, phone and water, transport and medical services can help you make sure you have enough for unexpected expenses and emergencies

5. HOW TO PLAN A FAMILY BUDGET?? SUM UP YOUR TOTAL MONTHLY INCOME. LIST DOWN ALL THE MONTHLY EXPENSES. SAVE SOME MONEY FOR SAVINGS OR INVESTMENT. ALSO KEEP SOME AMOUNT FOR UNEXPECTED EMERGENCY.

6. SAMPLE OF A FAMILY BUDGET PLAN A family of 4 members lives in a small apartment and their salary is Rs 50,000 per month. In order to manage their monthly expenses and savings the need to have a plan or a family budget . Let us have a look upon the family budget of them .

7. THE EXPENSES The monthly expenses of the family are as follows :- Electricity Bill : Rs . 5,000 LPG Cylinder: Rs . 710 Grocery Expenses : Rs.10,000 School fees : Rs . 8,000 Home Loan : Rs . 5,000 House help : Rs . 2,500 Petrol : Rs . 2,000 Average Medical Expenses : Rs . 500 Mobile Expenses : Rs . 1,500 Cable Charges : Rs . 400 House Tax + Water tax : Rs . 300 Miscellaneous : Rs 3000

8. LET’S DO SOME CALCULATIONS: Savings ( Disposable Income ) : Total Income – Total Expenditures Disposable Income : Rs. 50,000 – 38,910 = Rs. 11,090 The Disposable income is : Rs. 11,090.