Introduction
In this lesson you will learn about income and Expenditure, what is an income? Different types of incomes and the importance of an income.
you will also learn about expenditure, what is an expense and types of expenses. The video below will give clear explanations and examples.
you will then have to complete an Activity.
Task
This is based on Income and Expenditure, you have to watch a video that will explain to you all about Income and Expenditure. The video shows examples on how to calculate income and Expenditure. After that there is an exercise that you have to complete, it will help you understand income and Expenditure better.
the Activity have Questions that are based on income and Expenditure
Process
EXERCISE
Read the paragraph below and identify all Petrus's sources of income.
Classify each source of income as fixed, variable or occasional.
Petrus has just started his first job and he earns a basic salary as a sales representative, and also receives allowances for cell phone and travel. He also gets paid commission every three months on the sales that he makes. He has started a small music band and he sometimes gets asked to play at events such as birthday parties and weddings, where he negotiates his hourly fee.
You are currently in Grade 10 and in order to earn extra money you accept a job at a Spur restaurant as a waiter. You work the following shifts per month:
- Four Friday shifts per month for 55hours. Friday rate/hour = R20R20
- Four Saturday shifts per month for 1010hours. Saturday rate/hour = R30R30
- Two Sunday shifts per month for 88hours. Sunday rate/hour = R40R40
- Estimated tips earned per month = 1,51,5 ×× your monthly salary.
You decide to spend your income in the proportions shown below:
|
Clothes |
30%30% |
|
Entertainment |
10%10% |
|
Savings |
10%10% |
|
Charitable organisations |
25%25% |
|
Transport |
12%12% |
|
Sweets and cool drinks |
13%13% |
|
Total: |
100%100% If you earn an income of R1 200R1 200 in a particular month, calculate exactly how much money you will be spending on each of the above items. |
Evaluation
Conclusion
Learning more about income and Expenditure can help you to be able to save and keep track of your income and expenses.
this can be done in a particular organized way which is called a budget.
understanding your income and Expenditure topic will help you to draw up a budget plan every month.
here is an example of a budget plan:
Credits
Teacher Page
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I for one recommend webquest as a teaching tool.