1. SECTION
3-3
Using a Budget pp

2. Key Words to Know expense summary (p. 153)
A monthly report that compares the amounts you spend to the amounts you have budgeted.
emergency fund (p. 153)
Extra monies set aside to be used for unpredictable expenses, such as medical bills and vehicle repairs.

3. Example 1
At the end of March, Dr. Evil prepared an expense summary. He had planned to spend $220 on hot pockets. He actually spent $
How much more or less did he spend on hot pockets than they had budgeted for?

4. Example 1 Answer: Step 1 Compare.
Is the amount spent more or less than the amount budgeted?
Is $ more or less than $220.00? More.

5. Example 1 Answer: Step 2 Find the difference.
$ – $ = $11.85 more than the amount budgeted

6. Example 2
At the end of September, the Escobars prepared an expense summary. They had planned to spend $210 on transportation. They actually spent $
How much more or less did they spend on transportation than they had budgeted for?

7. Example 2 Answer: Step 1
Is the amount spent more or less than the amount budgeted?
Is $ more or less than $210? Less.

8. Example 2 Answer: Step 2 Find the difference.
$210 – $ = $12.20 less than the amount budgeted

9. Homework
: 1-14
END OF SECTION
3-3
Using a Budget