Objective & Instructions

Objective: Understand how to track income and expenses, analyze spending habits, and make budgetary adjustments.

1. Using the sample data, drag and drop each item into the "Income" or "Expense" category.
2. Calculate the total monthly income and total monthly expenses in the fields provided.
3. Determine if the budget has a surplus or a deficit and by how much.
4. Calculate the percentage of total income that goes towards "Housing" and "Food".
5. Complete the challenge to identify how to create a surplus of at least $200.

Step 1: Categorize Items

Drag each item from the list below into the correct box.

Step 2 & 3: Calculate Totals & Surplus/Deficit

Step 4: Analyze Your Spending

Calculate what percentage of your total income is spent on key categories. Use the formula: (Category Total / Total Income) * 100. Round to one decimal place.

Challenge: Create a Surplus

Your budget currently has a deficit. Identify at least three expenses that could be reduced. In the box below, explain how you would cut costs to create a budget surplus of at least $200. Be specific about the items and the amount you'd save on each.