These change depending on needs, such as food, clothing, medicine, entertainment (cinema, toys), and gifts. 4. The Three Types of Budgets
Income is all the money received by family members. Common sources include: Money earned by parents for their work. These change depending on needs, such as food,
When we compare Income and Expenses, we get one of three results: These change depending on needs
Have a "safety cushion" for emergencies (like a sudden repair). Go on vacations or travel. Conclusion such as food
The main goal of a budget is to control spending so the family has enough for essentials and can save for the future. 2. Income: Where does the money come from?