Budgeting Exercise

This is a family of 4 who you will make a budget for. You can use your own format or find a
budgeting tool online that you think might help with this task.

The father is a pilot for Emirates. Research what his salary would be. He only likes to drive a
sports car as he says he needs to travel everywhere at high speed. What are the costs involved
in this?

The mother works from home proofreading for a book publisher. Research what her wage
would be. She insists on driving a big car to be able to transport the children and any
equipment they might need. She pays for everything using Dad’s credit card because of the
benefits it gives her. Research which card might this be and are there really benefits attached?
One child is 18 and is studying hard to go to university. He wants to study law in the UK so
helps out at a law firm to gain experience on the weekends. He also volunteers at Al Noor
once a week. He is a keen footballer and plays for a team. What expenses need to be covered
for him?

The other child is 13 and wants to be an actor. They take singing, dancing and acting lessons.
Research how much these would cost. They also have tennis lessons because they have heard
that many actors play tennis together.

A 5 bedroom villa is provided by Emirates for them to live in. It has a lovely garden area at
the front and back, plus a pool in the back garden.

Can this family balance income and expenditure?

If there is a deficit how could they cut back on expenditures or get more income?
For what might they need a contingency sum?