HISTORY & ECONOMY / GRADE 7

MODEL FOR GROUP PROJECT: FAMILY BUDGETS

CRITERIA YES NO COMMENTS

1. CONTENT:
All the basic components of a typical family budget are clearly identified.
It has a description of its characteristics, according to their level of income.
2. STRUCTURE:
In the final report, there is a clear organization of the different sections:
✓ Description: socioeconomic characteristics of the typical family according to their level of
income.
✓ Monthly Expenses: list of items and costs (in Peruvian currency). A template could be used
here.
✓ Analysis: distribution of family monthly expenses (graphics), showing the difference
between basic needs and non-essential expenses (wants).
✓ Conclusions.
3. ACCURACY:
Prices and quantities of good & services are accurate and realistic.
The students provide evidence of their research using invoices, receipts, vouchers, etc.
4. ANALYSIS:
The final report shows clearly which costs correspond to basic needs and which ones are wants
(non-essential expenses), according to the model provided.
The students design different statistic graphics (e.g., pie chart, bar chart, etc.) to show all the
items of the budget as percentages or portions of the monthly expenses of the typical family.
5. PRESENTATION:
Graphic design and typography allow a clear understanding of the process of estimation &
analysis.
Identification data is provided (students’ names, grade and section, etc.).
GRADING SCALE:

AD = 5 YES A = 4 YES B = 3 YES C = 2 – 0 YES

 HISTORY & ECONOMY / GRADE 7

MODEL FOR FINAL REPORT: FAMILY BUDGET / MIDDLE-LOW CLASS INCOME

✓ Description: socioeconomic characteristics of the typical family according to their level of income.
✓ Monthly Expenses: list of items and costs (in Peruvian currency). A template could be used here.
✓ Analysis: distribution of family monthly expenses (graphics), using categories and showing the difference between basic needs and non-essential
expenses (wants).
✓ Conclusions.

1. DESCRIPTION OF THE MIDDLE-CLASS FAMILY:

✓ It is a family of 2 members: mother and daughter.
✓ They live in a small rented apartment, in a middle-class neighborhood (Magdalena del Mar).
✓ Apartment has only 1 bedroom, a small kitchenette and a living room. Building has 20 floors and 2 elevators.
✓ They use a laundry service weekly (rates by weight). Do not wash their clothes in the apartment.
✓ The mother is a school teacher, her monthly income (salary) is around S/. 4,500.00. She has 2 jobs in different schools (public & private).
✓ The daughter is 12 years-old, she studies in a small private school near home. She walks daily to her school. School fees: S/. 500 per month.
✓ They do not own a private vehicle, they use public transportation when needed (micros).
✓ Regarding to food, they usually buy a simple lunch in the school’s kiosko (“Menú”). Only cook during weekends (homemade dishes).
✓ Healthcare: they use medical services from Social Security (EsSalud hospitals) & occasionally, SISOL (Hospital de Solidaridad).
✓ Entertainment: watch TV channels, movies on Netflix or Internet (YouTube). Occasionally, they have walks in the public parks or malls near home.
They also have social meetings with some friends or visit relatives who live in the same area.
✓ The mother has a bank credit card (credit line = S/. 1,000). She uses it only for special purposes (buying new clothes or shoes).

2. MONTHLY EXPENSES:
PEN = S/.
CATEGORIES MONTHLY EXPENSES GASTOS MENSUALES (PERUVIAN OBSERVATIONS
CURRENCY)
House Rent Alquiler de vivienda 900.00 EVIDENCE #1
HOUSING & Water Supply Agua potable 27.50 EVIDENCE #2
UTILITIES Electricity Energía eléctrica 52.60 EVIDENCE #3
Internet / Cable TV Internet / Cable 121.90 EVIDENCE #4
 HISTORY & ECONOMY / GRADE 7

Natural Gas Gas natural 37.00 EVIDENCE #5

Cellphone(s) bill(s) Celular(es) 85.90 EVIDENCE #6
Maintenance bill Recibo de mantenimiento del edificio 180.00
FOOD Food supplies Alimentación 1,200.00
CLOTHING Clothing & shoes Ropa y calzado 100.00
Transportation: taxis, public transport, pool Transporte: taxis, transporte público, movilidad 100.00
TRANSPORTATION Car: Maintenance & Gasoline Auto: mantenimiento & gasolina ---------------
Car Insurance Seguro del auto ---------------
School Fees Pensiones escolares 500.00
EDUCATION Other educational expenses: books, school Otros gastos educacionales: libros, útiles escolares,
20.00
supplies, materials, private lessons, etc. materiales, clases particulares, etc.
Household Maintenance & Cleaning Products Mantenimiento del hogar & productos de limpieza 80.00
MAINTENANCE
Domestic Help Servicio doméstico ---------------
Personal Care Products & Makeup Cuidado personal: productos & maquillaje 30.00
PERSONAL
Servicios de cuidado personal: gimnasio, salón de
CARE Personal Care Services: Gym, Beauty Shop, Spa ---------------
belleza, spa
Medical Insurance Plan Plan de Seguro Médico Privado ---------------
HEALTHCARE
Medicines & Therapies Medicamentos & Terapias ---------------
Leisure time: Restaurants / Movies / Concerts / Tiempo Libre: Restaurantes / Cine / Conciertos /
100.00
Casinos Casinos / etc.
ENTERTAINMENT Private Clubs & Associations Fees Cuotas de clubes privados y asociaciones ---------------
Websites Subscriptions Suscripciones a sitios web ---------------
Streaming Subscriptions: Netflix, HBO, etc. Suscripciones a plataformas: Netflix, HBO, etc. ---------------
TAXES Local Taxes & Income Taxes Arbitrios municipales & Impuesto a la Renta 30.00
Credit Cards Payments Pagos de tarjetas de crédito 200.00
Personal Loans Préstamos personales --------------
Bank Loans Préstamos bancarios --------------
BANK DEBTS
Car Loans Payments Préstamos para compra de auto --------------
Mortgage Payments Pagos de hipoteca --------------
Other Debts Otras deudas --------------
Pet food Comida para mascotas --------------
PET CARE
Baths, grooming, vaccinations, medical care Baños, cortes, tratamientos médicos, vacunas --------------
 HISTORY & ECONOMY / GRADE 7

EVIDENCE #1: HOUSE RENT

EVIDENCE #2: WATER SUPPLY

EVIDENCE #4: INTERNET & CABLE

EVIDENCE #3: ELECTRICITY

 HISTORY & ECONOMY / GRADE 7

EVIDENCE #5: NATURAL GAS

EVIDENCE #6: CELLPHONE BILL

 HISTORY & ECONOMY / GRADE 7

3. ANALYSIS:

CATEGORIES SUB-TOTAL PERCENTAGES (%)

HOUSING & UTILITIES 1,404.90 38
FOOD 1,200.00 32
CLOTHING 100.00 3
TRANSPORTATION 100.00 3 BASIC NEEDS
EDUCATION 500.00 13
MAINTENANCE 80.00 2
PERSONAL CARE 30.00 0.80
ENTERTAINMENT 100.00 3 WANTS
TAXES 30.00 0.80
FINANCIAL DEBTS
BANK DEBTS 200.00 5
TOTAL MONTHLY EXPENSES 3,744.90 100

TOTAL MONTHLY INCOME 4,500.00

TOTAL MONTHLY EXPENSES 3,744.90
POSITIVE BALANCE (SAVINGS) 755. 10
 HISTORY & ECONOMY / GRADE 7

4. CONCLUSIONS:

✓ The most significative categories are: HOUSING & UTILITIES (38%) / FOOD (32%).
✓ Together, those categories represent 70% of monthly income for this family.
✓ There is a POSITIVE BALANCE (SAVINGS) of S/. 755.10
✓ Bank Debts could decrease at some time when loan is fully paid.
✓ There are possible options for saving more money in those strongest expenses’ categories (for instance, preparing homemade food for lunch time every
day / using a bicycle instead of public transportation).
✓ Basic needs like: housing & utilities / food are totally covered; however, they could analyze if private school fees are justified if compared with public
schools of similar quality of educational services.
✓ Some ‘wants’ could be replaced by cheaper options (regarding to entertainment expenses).