 Joey Rich's Budget
Meet Joey Rich. He is a kid just like you. He earns some money each week (this is called "income"), and he spends some money each week (this is called "expenses"). He wants to buy a ticket to go to Wyandotte Lake with his friends, so he has made a budget to help him find out how much he needs to save.
| Weekly Income |
|
Weekly Expenses |
| Allowance |
$10.00 |
|
Deposited in Kid's Club |
$5.00 |
|
|
|
|
|
| Money earned babysitting |
$10.00 |
|
Ice-cream with friends |
$3.00 |
|
|
|
|
|
| Money earned mowing the lawn |
$5.00 |
|
Birthday present for younger sister |
$7.00 |
| Total Income |
$25.00 |
|
Total Expenses |
$15.00 |
Joey's Total Weekly Income was $25.00
Joey's Total Weekly Expenses were $15.00
Joey has $10.00 extra money left over
Joey wants to go to Wyandot Lake. He can buy a discounted ticket at Western Credit Union for $12.25. So he needs to start saving his extra money.
If J. Rich decides to save $5.00 every week in the Western Kid's Club, it will take:
$ 5 |
|
Week One |
+ $ 5 |
|
Week Two |
-------- |
|
|
$10 |
|
In savings (still not enough to buy a ticket!) |
+ $ 5 |
|
Week Three |
-------- |
|
|
$15 |
|
Joey now has enough to buy a ticket, with some money to spare! And it took only three weeks! |
|
