TOPIC 1: Consumer and financial decisions

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Worksheet 1.13 The budget of Mario
Student: …………………………………………………………… Class: …….……………. Due date: …….……………….……

Copy the below six-monthly budget of Mario into a spreadsheet program such as Microsoft Excel.

Budget of Mario
J
u
Januar n
Type of Expense y February March April May e
Income
$
3
,
0
0
Salary $3,000 $3,000 $3,000 $3,000 $3,000 0
Expenses
$
5
0
Rent $500 $500 $500 $500 $500 0
water rates $50
$
4
0
Food $400 $400 $400 $400 $400 0
$
2
0
Electricity $200 0
$
1
0
Gas $50 0
$
5
Mobile Phone $50 $50 $50 $50 $50 0
Car insurance $500

© John Wiley & Sons Australia, Ltd 1

Hospital/medical/health $400
$
Newspapers 5
/magazines $50 $50 $50 $50 $50 0
$
4
0
Car - petrol/repairs $400 $400 $400 $400 $400 0
$
2
0
Credit cards $200 $200 $200 $200 $200 0
$
3
0
Other expenses $300 $300 $300 $300 $300 0
Total Expenses ? ? ? ? ? ?
Amount Saved each
month ? ? ? ? ? ?
Progressive Total
Saved ? ? ? ? ? ?

a) In the program insert equations so that the columns automatically calculate the correct totals.
b) What is Mario’s largest expense? ________________________
c) How much does Mario allocate to his credit cards each month? ________________
d) By the end of June, how much has Mario saved? _____________________
e) Mario wishes to go on a $5000 holiday to Europe at the end of June. Will he have saved
enough funds to pay for this trip by this time? ____________________
f) Mario’s landlord increased his rent to $600 per month from the start of March. How much
will Mario now have saved by the end of June? ____________________ Can he still afford to
go on his holiday to Europe? __________________________
g) Suggest some expenses Mario could eliminate or reduce in order to now be able to save
enough money for his holiday. ________________________________________
_____________________________________________________________________

© John Wiley & Sons Australia, Ltd 2