INTRODUCTION TO BUSINESS
INTRODUCTION TO BUSINESS GRADE 10
BUDGETING ASSIGNMENT
Ms. Cruz & Ms. Mastrotto
Name: _______________________ Date: ___________________
Working within the budgeting constraints given, prepare the budget for your assigned family (use Excel workbook sample) as well as a meal plan for 7 days..
Collect all information in a word document (use Printscreen to record evidence) that you will submit along with your typed budget (in Excel preferably)
Family A Nuclear Family (Two parents and two children)
➢ Resides in an apartment in The Annex (Toronto)
➢ Owns one car with a lease
➢ Children: 18-month old boy (attends day-care full-time)
12-year old girl in grade 6
➢ One partner commutes to Brampton while the other works in Toronto
➢ Net monthly income of $4 000 plus Universal Childcare Benefit
Group A
❖ Rental amount for apartments in the Annex—find an apartment, print a hard copy to be included with your assignment
❖ Car leases and insurance
❖ Daycare costs in Toronto—find a daycare
❖ Transit cost for commuting to Markham from Toronto, and throughout Toronto
❖ Groceries and other expenses
Family B Single-parent family (Male parent with three children)
➢ Resides in a single-family home in Brampton
➢ Children: 14-year old twins—boy/girl) Both in competitive Hockey
7 year old girl
➢ Employs a nanny for the children
➢ Leases a car
➢ Net monthly income is $7 500 (including Canada Child Tax Benefit) plus Universal Childcare Benefit
Group B
❖ Cost of homes in Brampton and mortgage payments
❖ Wages for nannies
❖ Public transit costs (for children) and competitive hockey costs.
❖ Car lease payments and insurance
❖ Groceries and other expenses
Family C Extended family (Two parents, an ailing grandparent, three children)
➢ Resides in a townhouse in Etobicoke
➢ One parent is on maternity leave and takes care of the children and grandparent
➢ Owns one car (has payments)
➢ Children: 5-month old boy
4-year old girl
11-year old boy in competitive gymnastics
➢ The grandparent has depression
➢ Net monthly income is $2 500 plus employment insurance (the parent gets the maximum amount) plus Canada Child Tax Benefit and Universal Childcare Benefit (you need to find these amounts)
➢ Group C
❖ Townhouse costs in Etobicoke and mortgage payments
❖ Employment insurance for maternity leave; cost of care for depression, access to care
❖ Car payments and insurance
❖ Groceries and other expenses
Family D Childless couple
➢ Resides in Pickering in a brand new condominium
➢ One partner volunteers in Toronto, three times each week
➢ The working partner commutes to Toronto for work by transit
➢ One partner has a gaming addiction and needs to be treated
➢ Net monthly income is $2 500
➢ They have a dog and a bird as pets
Group D
❖ Condominium costs and mortgage payments
❖ Transportation costs (no car)
❖ Counselling services
❖ Cost of pets and vet services
❖ Groceries and other expenses
Family E Single Male
➢ Resides in Scarborough in an apartment
➢ Suffers from unemployment due to depression
➢ Attends twice weekly sessions with a counselor
➢ Receives the amount allotted to single individuals on social assistance (Check how much he will receive, maximum amount)
➢ He has a cat to help with depression
Group E
❖ Apartment costs
❖ Transportation costs
❖ Groceries and other expenses
❖ Counseling services
❖ Food Banks in the area and other services
Step 1
✓ Meet with group members to decide on each person’s responsibility
Step 2
✓ Carry out research for individual work (create a Google doc for your team where I have access too)
Step 3
✓ Prepare Budget for a month and meal plan for a week
INTRODUCTION TO BUSINESS GRADE 10
BUDGETING ASSIGNMENT
GROUP NO.: _________
MEMBERS: ____________________________________________________________
ROLES AND RESPONSIBILITIES:
❖ ____________________
❖ ____________________
❖ ____________________
❖ ____________________
❖ ____________________
❖ ____________________
ACTIVITIES COMPLETED:
Member 1 ________________________________________________________
________________________________________________________
________________________________________________________
________________________________________________________
Member 2 ________________________________________________________
________________________________________________________
________________________________________________________
________________________________________________________
Member 3 ________________________________________________________
________________________________________________________
________________________________________________________
________________________________________________________
Member 4 ________________________________________________________
________________________________________________________
________________________________________________________
________________________________________________________
Member 5 ________________________________________________________
________________________________________________________
________________________________________________________
________________________________________________________
Members missing work
Member ________________________________________________________
________________________________________________________
________________________________________________________
________________________________________________________
INTRODUCTION TO BUSINESS
GRADE 10
BUDGETING
Name: __________________________
BUDGET 0____________________10
o Total income is calculated
o all fixed expenses and variable expenses are included
o a priority is given to savings
o the budget is balanced
GROCERY 0___________________10
o All necessities are purchased
o All members of the family are taken into consideration
o Dietary needs are met
o Balanced meals can be prepared from purchases
MEAL PLANS 0 1 2 3 4
o Meals are balanced with fruits, grains, dairy, and meat
o Three meals per day are planned for seven days
o Meal plan is consistent with the budget
HOUSING 0________________________6
o Three choices are made for comparison shopping
o Housing meets the needs of the family
o Cost of housing is not beyond the family’s means
MISCELLANEOUS 0________________________10
o Research information gathered for budget:
o Insurance, internet/television cable, transportation, childcare,
o Mental-health counselling, etc.
Notes:
________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
Marks /40
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