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Answer:

However, I can guide you on how to conduct an interview with your parents about the monthly household budget and provide an example of how to create a pie chart using hypothetical data you might gather during the interview.

Interview Questions:

What is the total monthly income for our family, including all sources?

What are the fixed expenses or bills we pay regularly (e.g., mortgage/rent, utilities, insurance)?

How much do we spend on groceries and daily necessities?

Do we have any monthly debt payments (e.g., loans, credit cards)?

What is the monthly budget for transportation (e.g., gas, public transport)?

How much do we allocate for entertainment and leisure activities?

Do we have any savings or investments each month?

Are there any other regular expenses not mentioned above?

Hypothetical Budget Data:

Total Monthly Income: $5,000

Fixed Expenses: $1,500 (30%)

Groceries and Daily Necessities: $800 (16%)

Debt Payments: $400 (8%)

Transportation: $200 (4%)

Entertainment and Leisure: $300 (6%)

Savings/Investments: $600 (12%)

Other Expenses: $1,000 (20%)

Creating a Pie Chart:

Now, let's create a pie chart based on the hypothetical data:


Explanation of the Pie Chart:

The pie chart visually represents the allocation of the monthly household budget. Each slice of the pie corresponds to a specific category of expenses. The percentages in parentheses indicate the portion of the budget allocated to each category.

Fixed Expenses (30%): This is the largest portion of the budget, covering essentials like rent/mortgage, utilities, and insurance.

Groceries and Daily Necessities (16%): This category includes food and other essential items for daily living.

Debt Payments (8%): This represents the portion of the budget dedicated to repaying loans or credit card debt.

Transportation (4%): This covers expenses related to commuting or vehicle costs.

Entertainment and Leisure (6%): This is for activities like dining out, movies, and hobbies.

Savings/Investments (12%): A portion of the budget is allocated for saving or investing in the future.

Other Expenses (20%): This category includes any miscellaneous or discretionary spending.

This pie chart provides a clear visual representation of how the household budget is distributed, helping to identify areas where adjustments or savings could be made to meet financial goals and priorities.

Explanation: