Performance Task 2
Direction: Adopt the 70-20-10 principle of budgeting for the following families. Show recommended breakdown of
their expenses.
1. Torres family (with four family members)
Combined net family income: P70,000.00 a month
Expenses: (70%)
Savings: (20%)
Emergency savings: (10%)
2. Cruz family (with three family members)
Combined net family income: P45,000.00 a month
Expenses: (70%)
Savings: (20%)
Emergency savings: (10%)
Direction: Adopt the 70-20-10 principle of budgeting for the following families. Show recommended breakdown of
their expenses.
1. Torres family (with four family members)
Combined net family income: P70,000.00 a month
Expenses: (70%)
Savings: (20%)
Emergency savings: (10%)
2. Cruz family (with three family members)
Combined net family income: P45,000.00 a month
Expenses: (70%)
Savings: (20%)
Emergency savings: (10%)
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Answer:
1.
70,000 x 70% = 49,000 - Expenses
70,000 x 20% = 14,000 - Savings
70,000 x 10% = 7,000 - Emergency savings
70,000 = 70,000
2. Do this on your own following the same formula.
Im not sure.