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1. Why is there a need to budget the income of the family?

2. What is the formula used solve the amount allotted?

3. It refers to electricity, water, and telephone bills?

4. Tuition fees, books, daily food, transportation allowance of children

5. What is the difference between needs and wants?

6. It talks about the amount of money set aside for planned expenses. It
is a plan specifying how much money will be spent or allocated during
a particular period.

7. The biggest portion of the family income is spent for food, including
the other needs/things bought in the groceries and sari-sari store.

8. It refers to the amount being set aside for emergency expenses or


future plans.

9. it means the amount of funding designated to each expenditure line

10. What are those basic needs of the family?

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