Home Activity
15 May 2024
Week 7: Budget
Study the case study and answer the questions that follow:
Lucy receives a monthly allowance of R2000 from her parents and she works
part time at Mugg and Bean washing dishes. From the part time job she earns
R1600 per month. She usually babysits for her aunt and earns R400. Her
expenses include extra classes for R400, Clothes for R1000, entertainment for
R800, Transport for R600 and lunch money for R800.
1. Draw Up a personal budget for Lucy using the information above. (15
Marks)
Income (Receipts) Amount
Expenses
(Payments)
Total Income
Balance
Total expenses
2. Is the balance a deficit or a surplus? (2)
Amount