Financial Capabilities

LI: to understand a budget is a plan to save money.

A budget is an amount of income given for a certain time period. This activity was based off of strategizing how much money is spent with the given amount of money. Each question was there to test the most efficient strategy to us. We read the questions carefully, taking in the information we required in order to answer each of the five questions. The Smith family planned a museum night with the budget of $45. The entry fee was free for all of the kids but costed $20 for both of the parents/adults. The kids were allowed to take part in every activity costing them $18 for all three of the kids. With their remainder money ($7), they had ice-cream which was $2 for one scoop. In the end, the Smith family had $1 left and successfully spent within the budget of 45 dollars.