• Ann Day's monthly budget and actual amount spent for household expenses in June is shown below. How much more or less did Ann spend than she budgeted?

Household Amount Budgeted Actual Amount Spent

Electric bill $45.00 $44.00

Telephone bill $35.00 $31.25

Heating fuel $50.00 $25.00

Water bill $24.50 $31.75

Cable TV bill $25.00 $25.00

• Cleveland and Briana Baker keep records of their expenditures. They want to know how much they spend each month, on average. Here are their records for 4 months. What is their average monthly expenditure?

Month Expenditure

January $3,776.77

February $3,877.32

March $8,986.43

April $4,436.98

• Match the following terms with the descriptions.

Emergency fund

Living expense Expenditures

Annual expense

Budget sheet

Expense Summary

____________ Compares the amount you spend with your budget

____________ The items you spend your money on

____________ A tool to record your expenses

____________ Expenses that occur once a year

____________ Routine expenses, including amounts for food, utility bills, and pocket expenses

____________ Extra money set aside for unpredictable expenses