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Cogito

Consumer Math · Chapter 2 · Lesson 1

Practice Worksheet

Building a Budget

Give every dollar a job.

12 problems · about 21 minutes · TEKS M.M.2.A

NameDate

Figure — use these to answer the problems

Adjust the categories. When the bars total more than income, the budget is in deficit.
Housing1000
Food400
Transport300
Saving400
Housing1000
Food400
Transport300
Saving400
Figure 1

Warm Up

Straightforward practice. Get the method working first.

5 problems

  1. Income $2800, expenses $2500. Surplus in dollars?

    Answer

  2. What does "pay yourself first" mean?

    • Set savings aside at the start of the month, before spending.
    • Save whatever is left at the end.

  3. Income $3000, expenses $2600. Surplus in dollars?

    Answer

  4. Expenses $900, $250, $180 and $120. Total in dollars?

    Answer

  5. The 50-30-20 rule on $3000 net. How much to saving, in dollars?

    Answer

Build It Up

The same ideas with more to keep track of.

3 problems

  1. Same rule and income. How much to needs, in dollars?

    Answer

  2. Income $2000, expenses $2150. Deficit size in dollars?

    Answer

  3. Rent $1200 out of $3000 net. What percentage is housing?

    Answer

Stretch Yourself

Mixed problems. Work out what kind of question it is before you start.

4 problems

  1. Sort each expense by its type.

    Write each item under the heading it belongs to: Rent · Car loan payment · Groceries · Entertainment

    Fixed

    Variable

  2. The 50-30-20 rule on $4000 net. How much to wants, in dollars?

    Answer

  3. The Surplus

    Income $2400, expenses $2200. What is the surplus, in dollars?

    Answerdollars

  4. The Deficit

    Income $1800, expenses $2000. What is the surplus, in dollars?

    Answerdollars