family budget sheet
Please choose two assignment’s to complete.
Family Budget Sheet
Imagine that this is your family. Like
other families in similar situations, yours will have to make difficult
decisions about how to spend your money. Every month you have to make
choices about how to meet all your financial responsibilities, including
feeding your children. Currently, your budget contains no room for
luxuries, such as entertainment or a car.
Item Column #1 Column #2
Rent (2 bedroom apartment) $800.00
Phone $40.00
Gas, Water & Garbage $60.00
Groceries $380.00
Transportation (old car) $160.00
Entertainment
Medical Care $60.00
(addition to basic employer coverage)
Savings
Other
Total Expenditures $1,500.00
Monthly Income $1,500.00
Balance $0.00
Assignment 1:
Your child gets sick. The doctor’s visit, the tests, and the medication
costs are $300.00 more than what your employer paid health insurance
will cover. How will you pay the medical bills?
Assignment 2: You
lose your job. The unemployment benefits, which begin one week after
your last paycheck arrives is only equal to two-thirds of your regular
pay. Your total monthly income decreases by $400.00. How will you
balance your budget?
Assignment 3:
You catch the flu and miss four days of work. Without paid sick leave,
your income is reduced by $160.00. How will you make up for this
shortfall in your budget?
