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Create a family budget for the Benson family using the provided payslip, assuming common expenses.

Business/Management

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Answer

2730.00=R9.502730.00 = \text{R}9.50

Step-by-step solution

5 steps

Here is a family budget for the Benson family, based on the provided payslip. Since no specific expenses are given, common expenses have been assumed for demonstration purposes.

  1. Determine Household Income

    The household income is based on John Benson's net salary from the payslip.

    Household Income (Net Salary)=R2739.50\text{Household Income (Net Salary)} = \text{R}2739.50
  2. List Essential Expenses (Assumed)

    These are necessary costs for living.

    • Rent/Bond: R1000.00
    • Groceries: R800.00
    • Transport: R300.00
    • Utilities (Electricity/Water): R250.00
    • Medical Aid: R150.00
    • School Fees (if applicable): R0.00 (assuming no school-going children or fees covered elsewhere)
    Total Essential Expenses=R1000.00+R800.00+R300.00+R250.00+R150.00+R0.00=R2500.00\text{Total Essential Expenses} = \text{R}1000.00 + \text{R}800.00 + \text{R}300.00 + \text{R}250.00 + \text{R}150.00 + \text{R}0.00 = \text{R}2500.00
  3. List Non-Essential Expenses (Assumed)

    These are discretionary costs.

    • Entertainment/Leisure: R100.00
    • Clothing: R50.00
    • Savings: R50.00
    • Airtime/Data: R30.00
    Total Non-Essential Expenses=R100.00+R50.00+R50.00+R30.00=R230.00\text{Total Non-Essential Expenses} = \text{R}100.00 + \text{R}50.00 + \text{R}50.00 + \text{R}30.00 = \text{R}230.00
  4. Calculate Total Expenditure

    This is the sum of all essential and non-essential expenses.

    Total Expenditure=Total Essential Expenses+Total Non-Essential Expenses\text{Total Expenditure} = \text{Total Essential Expenses} + \text{Total Non-Essential Expenses} Total Expenditure=R2500.00+R230.00=R2730.00\text{Total Expenditure} = \text{R}2500.00 + \text{R}230.00 = \text{R}2730.00
  5. Compile the Family Budget Summary

    Benson Family Monthly Budget

    ItemAmount (R)
    Household Income
    John Benson Net Salary2739.50
    Total Income2739.50
    Essential Expenses
    Rent/Bond1000.00
    Groceries800.00
    Transport300.00
    Utilities250.00
    Medical Aid150.00
    School Fees0.00
    Subtotal Essential2500.00
    Non-Essential Expenses
    Entertainment100.00
    Clothing50.00
    Savings50.00
    Airtime/Data30.00
    Subtotal Non-Essential230.00
    Total Expenditure2730.00
    Net Balance (Income - Expenditure)9.50

    The final budget summary shows a net balance of:

    Net Balance=Total Income−Total Expenditure\text{Net Balance} = \text{Total Income} - \text{Total Expenditure} Net Balance=R2739.50−R2730.00=R9.50\text{Net Balance} = \text{R}2739.50 - \text{R}2730.00 = \boxed{\text{R}9.50}
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