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Assignment 1
Set up a budget to persuade your parents that your pocket money has to be increased and suggest a more acceptable amount.
BUDGET:
| Amount | |||
| Income – pocket money | |||
| Expenditure | |||
| a) | Stationery | ||
| i) | |||
| ii) | |||
| iii) | |||
| iv) | |||
| b) | Toiletriesi) | ||
| ii) | |||
| iii) | |||
| c) | Gifts | ||
| i) | |||
| ii) | |||
| iii) | |||
| d) | Sweets | ||
| i) | |||
| ii) | |||
| Underline Surplus/Shortfall |
[LO 3.4]
If your pocket money is not increased, you will not be able to pay all your accounts. Your debt will therefore exceed your budget. This results in an accumulation of debt. What implications will this have in the business world?
Assignment 2
If your parents cannot afford to give you more than R30, 00 for pocket money per month, which expenditure will you cut back on to balance your budget? Draw up a new budget by leaving out any items that you regard as unnecessary.
To balance your budget means to spend an amount equal to or less than your income.
| Amount | |||
| Income – pocket money | 30,00 | ||
| Expenditure | |||
| a) | Stationery | ||
| i) | |||
| ii) | |||
| iii) | |||
| iv) | |||
| b) | Toiletriesi) | ||
| ii) | |||
| iii) | |||
| c) | Gifts | ||
| i) | |||
| ii) | |||
| iii) | |||
| d) | Sweets | ||
| i) | |||
| ii) | |||
| Underline Surplus/Shortfall |
[LO 3.4]
(b) Problem 2: Household budget:
Your parents are working for a living (an income) because they also have expenses that they have to pay. This expenditure can be fixed expenditure (not varying, a fixed monthly amount) or variable expenditure (which increases according to how much is used.)
Assignment 3
Group the following types of expenditure in the appropriate column : instalments to pay for house; telephone rental; water account; domestic worker’s pay; electricity account; clothing account that is being paid off; gardener’s pay; cash groceries; pocket money; expenditure on recreation; fuel.
| Fixed expenditure | Variable expenditure |
Problem : Are you allowed to work to earn pocket money?
Assignment 4
Read the newspaper article provided below, which was published in Die Rapport of 10 February 2002 (translated).
She cannot skip rope with her friends after school in the afternoons any longer. She has also had to say farewell to cross country, the sport in which she used to excel. But Waronice van Wyk (13) is not angry any more, just frustrated because she now has to play at home alone every weekend.
“Sometimes I forget that my leg is not there, because I have become used to the artificial leg,” she says.
And the chances that she will allow you to see her artificial leg are nil, because Waronice constantly wears long pants “so that people cannot see what my leg looks like”.
The leg that she refers to is her right leg, which was amputated just below the knee. She lost the leg in an accident on 20 December 1999, while she was working as an eleven-year old on a farm just outside Ceres in the Boland.
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