# Maths Project on Home Budget

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## - HOME BUDGET

-Vidhi chokhani Xth

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1.

2.

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## B

### UDGET

 Budget types

1. Sales budget: The sales budget is an estimate of future sales,

often broken down into both units and dollars. It is used to create company sales goals.

2. Production budget: Product oriented companies create

a production budget which estimates the number of units that must be manufactured to meet the sales goals. The production budget also estimates the various costs involved with

manufacturing those units, including labor and material.

3. Cash Flow/Cash budget: The cash flow budget is a

prediction of future cash receipts and expenditures for a particular time period. It usually covers a period in the short

term future. The cash flow budget helps the business determine when income will be sufficient to cover expenses and when the company will need to seek outside financing.

4. Marketing budget: The marketing budget is an estimate of the

funds needed for promotion, advertising, and public relations in order to market the product or service.

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4. Marketing budget: The marketing budget is an estimate of the funds

needed for promotion, advertising, and public relations in order to market the product or service.

5. Project budget: The project budget is a prediction of the costs

associated with a particular company project. These costs include labor, materials, and other related expenses. The project budget is often broken down into specific tasks, with task budgets assigned to each.

6. Revenue budget: The Revenue Budget consists of revenue receipts of government and the expenditure met from these revenues. Tax

revenues are made up of taxes and other duties that the government levies.

7. Expenditure budget: A budget type which include of spending data items.

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## T

### BUDGET

 Several tools are helpful for constructing a personal budget. Regardless of the tool used,

a budget's accuracy is only as good as the accuracy of the updated budget data; an old budget that does not reflect actual income or expenses is of little use to a current budget. Computer generated budgets have become commonly used as they replace the need to rewrite and recalculate the budget every time there is a change.

 Pencil and paper

A simple budget can be written on a piece of a paper with a pencil, and optionally, a calculator. Such budgets can be organized in three-ring binders or a file cabinet. Simpler still are the pre-formatted household budgeting or bookkeeping forms that creates a budget by filling in the blanks.

Spreadsheet software, including Microsoft Excel, iWork Numbers or OpenOffice.org Calc, helps to arrange budgets according to need and performs calculations easily with rudimentary formulas. For example, budget spreadsheets are used to keep track of income and expenses. The major reason most people discontinue using budget spreadsheets that don't offer date-shifting is that the information needs to be reentered or moved at the end of each month. Spreadsheets are still excellent for complex budgets and planning.

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 Money-management software

Some software is written specifically for money management. Products such as Fortora Fresh Finance, Money dance, Quicken, Microsoft

Money (discontinued), and Gnu Cash are designed to keep track of

individual account information, such as checking, savings or money-market accounts. These programs can categorize past expenses and display

monthly reports that are useful for budgeting future months.

 Money-management websites

Several websites, such as Mint.com and Thrive, have been devised to help manage personal finances. Some may have a privacy policy governing the use and sharing of supplied financial information.

 Spending-management software

Spending-management software is a variation of money-management

software. Unlike typical budgeting that allocates future personal income towards expenses, savings and debt repayment, this type of software utilizes a known amount of money, the cash on hand, to give the user information regarding what's left to spend in the current month. This method eliminates some of the guess work associated with forecasting what a person might receive for income when it comes to allocating budgeted money. Like money-management software, some spending-management software packages can connect to online bank accounts in order to retrieve a current status report.

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## B

### UDGET

 Once a budget is constructed and the proper amounts are allocated to their

proper categories, the focus for personal budgeting turns to following the budget. As with allocation, there are various methods available for following a budget.

 Envelopes

Envelope Accounting or the is a method of budgeting where on a regular basis (i.e. monthly, biweekly, etc.) a certain amount of money is set aside for a specific

purpose, or category, in an envelope marked for that purpose. Then anytime you make a purchase you look in the envelope for the type of purchase being

considered to see if there are sufficient funds to make the purchase. If the money is there, all is well. Otherwise, you have three options: 1) you do not make the purchase; 2) you wait until you can allocate more money to that envelope; 3) you sacrifice another category by moving money from its associated envelope. The flip side is true as well, if you do not spend everything in the envelope this month then the next allocation adds to what is already there resulting in more money for the next month.

With envelope budgeting, the amount of money left to spend in a given category can be calculated at any time by counting the money in the envelope. Optionally, each envelope can be marked with the amount due each month (if a bill is known ahead of time) and the due date for the bill.

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## E

### XAMPLE

1. Family’s Name : Chopra’s 2. No. of Family members:6

3. No. of Earning Members of the Family: 2 4. No. of children studing:2

5. No. of Helping Hands at home:2

(1 part-time,1 full time)

6. No. of Telephone lines (Land lines):1 7. No. of Mobile phones:4

8. No. of Vehicals:2

9. (1 four wheeler;1 two wheeler) 10. House owned

11. Designation of earning members : Grandfather: Manager in ICICI Bank

Father : Executive director in Mehta & Mehta

Company

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## J

### ANUARY

CATEGORY MONTHLY AMOUNT

TOTAL INCOME

TAXES

ACTUAL INCOME

### 60000

HOUSE MAINTAINANCE

### 4000

GROCERRY+FRUITS+VEGE TABLES

MILK

### 5000

ELECTRICITY+WATER

CONVEYANCE

### 1000

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CATEGORY MONTHLY AMOUNT CLOTHING 2500 EDUCATION+CLASSES 5000 ENTERTAINMENT+PRESETATIO N 2000 AUTOMOBILES 2000 TELEPHONE+MOBILE 2000 HOME HELPERS 1500 REPAIRS 500 CABLE+INTRNET CONNECTION 500 TRAVELLING 2000 LAUNDARY 500 SHOPPING 2500 STATIONERY 500 MEDICAL 5000 GRAND TOTAL 51000 SAVINGS 9000 YEARLY SAVINGS 10800

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## EXPENSES

0 2000 4000 6000 8000 10000 12000

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## EXPENSES

HOUSE MAINTAINANCE GROCERRY+FRUITS+VEGETABLES MILK ELECTRICITY+WATER CONVEYANCE CLOTHING EDUCATION+CLASSES ENTERTAINMENT+PRESETATION AUTOMOBILES TELEPHONE+MOBILE HOME HELPERS REPAIRS CABLE+INTRNET CONNECTION TRAVELLING LAUNDARY SHOPPING STATIONERY MEDICAL

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## AND ACTUAL AMOUNT

ACTUAL INCOME SAVINGS

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## BIBILIOGRAHY

### http://office.microsoft.com/en-us/templates/family-monthly-budget-planner-TC001023342.aspx

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