TABLE1 shows the current income and expenses of Minh, a 14-year-old Year 8 student.
TABLE1 Minh’s current income and expenses
January
February
March
Income
$
$
$
Pocket money
45.00 20.00 15.00 80.00
45.00 15.00 15.00 75.00
45.00
Odd jobs
5.00
Allowance from grandparents
15.00 65.00
Total income
Expenses Magazine Fast food
5.00
5.00
-
30.00 10.00 30.00 75.00
25.00 10.00 25.00 65.00 10.00
20.00 10.00 25.00 55.00 10.00
Games Clothes
Total expenses
Cash remaining (income − expenses)
5.00
SkillBuilder discussion Interpreting and analysing data and information 1. Study TABLE1 . Can you see some possible savings? 2. Can you see the possibility of extra income? 3. How much is Minh able to save each month given his current income and expenses?
Minh has decided he wants to buy a new PlayStation controller in 3 months’ time, at a cost of $90. This is a short-term goal. He has offered to do some odd jobs around the house for his parents to maintain his income of $20 per month from this source. He has also decided he can cut back on some spending by reducing his fast-food purchases, limiting his game purchases to $5 per month and cancelling the magazine purchase. TABLE2 shows what Minh’s planned budget for three months might look like.
TABLE2 Minh’s planned budget
April
May
June
Income
$
$
$
Pocket money
45.00 20.00 15.00 80.00
45.00 20.00 15.00 80.00
45.00 20.00 15.00 80.00
Odd jobs
Allowance from grandparents
Total income
Expenses Fast food
15.00
15.00
15.00
Games Clothes
5.00
5.00
5.00
20.00 40.00 40.00
20.00 40.00 40.00
20.00 40.00 40.00
Total expenses
Cash remaining (income − expenses)
SkillBuilder discussion Interpreting and analysing data and information 1. Look at TABLE2 . How much is Minh able to save each month given his planned changes to his income and expenses? 2. In total how much has Minh saved? 3. How much will he have left once he has bought his PlayStation controller?
630 Jacaranda Humanities Alive 8 Victorian Curriculum Third Edition
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