Budgeting and Saving (Grade 10 NSC Matric Mathematical Literacy): Flashcards

Planning how to spend money based on expected income

Monthly budgeting and event budgeting

Essential expenses like food and healthcare

A savings plan for future needs or debt repayment

$\text{Income} - \text{Expenditure}$

Positive result; money left over

Negative result; spending more than you earn

Budget=planned expenditure; Statement=actual expenditure

Unexpected costs, annual expenses, events, future goals

Repay debts first; you pay interest on debts