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Budgeting

A budget helps you to manage your money. If you spend more than your income, you will get into debt. If your income is more than your expenditure, you can save and plan for future events.

Look at these two examples of weekly income and expenditure.

Example 1
The person's income is more than they spend. Subtract the expenditure from the income to work out the surplus. Type your answer in the box, and then do the next one before you check your answer.

Income£305
Expenditure£280
Surplus£

Example 2
This person spends more than their income. Subtract the income from the expenditure to work out the deficit. Type your answer in the box.

Expenditure£225
Income£195
Deficit

£