Name17.6

?

Personal Financial

Literacy—5.10.F

MATHEMATICAL PROCESSES

5.1.A, 5.1.E

Make a Budget

Essential Question

How can you make and balance a budget?

Unlock

Unlock the

the Problem

Problem

A budget is balanced when expenses equal income.

Answer the questions, make your choices, and fill in

the charts to make and balance a budget.

Extra Income!

Make a budget.

Mow lawn: $12

Your allowance is $20 per week. Circle one of these

ways to earn extra income. Decide how often you

will do it in one week.

Water neighbor’s plants: $6.75

Dog walking: $1.50 per dog per day

When you list your expenses, remember to include

funds for fun and entertainment, as well as

repeating expenses like lunch, bus fare, lessons

you pay for, regular donations, savings, and

emergency money.

A What is your weekly income?

Description

Amount

B What are your weekly expenses?

Description

Amount

Allowance

Other

Math Talk

Mathematical Processes

Total

Total

Income − expenses = __

Is your budget balanced? Explain

what you might do to have

more money available at the

end of the month.

© Houghton Mifflin Harcourt Publishing Company

Redo your budget, if needed, to make expenses equal income.

• You forgot to budget $10 for a birthday gift for your best friend.

How can you adjust your budget to fit the new expense?

Module 17

647

Share

Share and

and Show

Show

Complete the tables to find Rob’s total income and total expenses for the week.

Use the tables for 1–3.

Income

Description

Expenses

Amount

Description

Amount

Allowance

$12

School lunches

$8

Washing windows

$10

Field trip

$10

Babysitting

$16

New jeans

$21

Gift

$10

Savings

$10

Total

$

Total

$

1. Is Rob’s budget for the week balanced? Explain.

Write Math

2.

How can Rob balance the budget?

3. Rob is saving for a tool kit. He needs $79.99 to buy the kit. If he continues

to save the same amount each week, how soon will he be able to buy it?

Problem

Problem Solving

Solving

4. Analyze For every $10 Zain earns, he will budget $2 for savings, $3 for special

5.

Multi-Step Rhonda budgets for the following expenses each week:

$5 for bus tickets, $20 for lunch, $10 for movies, and $5 for savings. Rhonda gets

$20 as her weekly allowance and $5 for each garden she weeds. If Rhonda’s

weekly budget is balanced, how many gardens does she weed each week?

6.

Hazem’s weekly income is $40. He budgets $20 for food and

entertainment each week and saves the rest of his income. How much money

will he save in 5 months?

648

© Houghton Mifflin Harcourt Publishing Company

purchases, $1 for donating to charity, and $4 for his regular expenses. If Zain

earns $200, how much will he budget for his regular expenses?

Name

Problem

Problem Solving

Solving

7. Multi-Step The tables show Diana’s income and expenses

for one week. Find the amount for other expenses that will

balance her budget for that week.

Income

8.

Expenses

Doing laundry for a neighbor: $12 per week

Donations to the animal shelter: $6 per week

Helping with homework: $5 per hour, 3 hours per week

Bus fare: $2 per day, 6 times each week

Selling old board games at a yard sale: $18

Savings $10

Allowance: $7

Snacks/entertainment: $14

Gift: $10

Other expenses $

Mia earns $15 from babysitting and $9 from

dog–walking each week. Her weekly allowance is $15. Mia

budgets a third of her income each week for savings and

the rest for repeated expenses. How much money does she

have in her budget for repeated expenses?

9. Record The tables show Han’s monthly budget. Complete

the tables to show the total income, total expenses, and the

amount of savings if the budget is balanced.

Income

Expenses

Description

Amount

Description

Amount

Allowance

$40

Lunch and snacks

$125

Paper route

$120

Entertainment

$25

Babysitting

$80

Savings

$

Total

$

Total

$

10. Tanja saves $75 each week. Her other expenses are four times

© Houghton Mifflin Harcourt Publishing Company

the amount she saves. If Tanja’s weekly budget is balanced,

what is her weekly income?

11. Multi-Step Yoav earns $8 after taxes for every hour he works

at the grocery store. He works 15 hours each week at the

store. If Yoav budgets a third of his earnings for art supplies,

how much money does he have to spend on art supplies

each week?

Module 17 • Lesson 6

649

Mathematical Processes

M

Model ¥ Reason ¥ Communicate

M

Daily

Daily Assessment

Assessment Task

Task

Fill in the bubble completely to show your answer.

Use the chart for 12–13.

Madi’s March Budget

Income

Expenses

Allowance: $40

Book/music downloads: $26

Household chores: $20

Cat supplies: $22

Selling used video games: $10

Savings: $30

Gift: $15

Giving to charity: $15

12. Madi’s budget is not balanced. By how much must she reduce expenses

to balance her budget?

A

$85

C

$93

B

$18

D

$8

13. Madi reduces her monthly expense for book/music downloads to

$13. How much more money can she put away for savings and

still balance the budget?

A

$13

C

$30

B

$5

D

$35

14. Multi-Step Carlos is paid $17 per hour after taxes. He works 25 hours per

week. His weekly expenses add up to $476. How many more hours per

week would Carlos have to work to balance his budget?

A

1 hour

C

0 hours

B

3 hours

D

28 hours

TEXAS Test Prep

she budgets $10 for charity, $20 for savings, $20 for books, and $50 for

other expenses. If her income is $500 per week, how much does she give to

charity each week?

650

A

$500

C

$5

B

$50

D

$250

© Houghton Mifflin Harcourt Publishing Company

15. Georgette balances her budget by using this plan. For every $100 she earns,

Personal Financial Literacy—5.10.F

MATHEMATICAL PROCESSES 5.1.A, 5.1.E

H o mewo rk

and Practice

17.6

Name

Make a Budget

The chart shows Kristi’s January

budget. Use the chart for 1–2.

1. What are Kristi’s total expenses

for January?

2. How much will Kristi need to

Income

Description

Expenses

Amount

Description

Amount

Allowance

$50

Piano lessons

$80

Shoveling snow

$40

Snacks

$25

Tutoring

$35

Ski rental

$40

Dog sitting

?

Savings

$25

Total

Total

earn dog sitting in January for

her budget to be balanced?

3. Kristi is saving for a pair of binoculars. The binoculars cost $125.99. If

she saves an additional $2 each week, can she buy the binoculars in

5 weeks? Explain.

Problem

Problem Solving

Solving

The chart shows Donald’s expenses

for one week. Use the chart for 4–5.

Income

Description

4. What are Donald’s expenses for

the week?

Swimming lessons

Babysitting

Weeding garden

© Houghton Mifflin Harcourt Publishing Company

5. How much does Donald earn for

babysitting if his weekly budget

is balanced?

Total

Expenses

Amount

$30

?

$10

Description

Amount

School lunches

$25

Bus Fare

$15

Movie

$8

Savings

$10

Total

Module 17 • Lesson 6

651

TEXAS Test Prep

Lesson

Lesson Check

Check

Fill in the bubble completely to show your answer.

6. Pilar has a plan for her budget. For every

$10 she earns, she will budget $4 for savings,

$4 for her regular expenses, and $2 for special

purchases. If her income is $64,000 per year,

how much does she budget for special

purchases?

A

$6,400

B

$25,600

C

$12,800

D

$32,000

7. Which statement is true about Mr. Simon’s

monthly budget?

A

His budget is balanced when his

monthly expenses equal total income

for the month.

B

His budget is balanced when total

monthly expenses are greater than his

income.

C

His budget is balanced when total

income is greater than his expenses.

D

His budget is balanced when his weekly

expenses are less than his monthly

expenses.

The chart shows Ellison’s April budget. Use the chart for 8–9.

Ellison’s April Budget

Expenses

Allowance: $20

Savings: $20

Yard work: $15

Donation: $10

Garage sale: $18

Baseball tickets: $35

Computer lessons: $16

Club dues: $10

8. Ellison is saving for a skateboard that costs

$49.75. If he continues to save the same

amount each month, how soon will he be able

to buy it?

A

3 months

C

3 weeks

B

2 months

D

2 weeks

10. Multi-Step Shelley earns $12 per hour after

652

9. Ellison decides to ask his parents for an

increase in his allowance so he can balance

his budget. How much more will Ellison need?

A

$6

C

$15

B

$5

D

$16

11. Multi-Step Tyrone earns $650 per week. This

taxes. She works 30 hours each week. Her

weekly expenses are $420. How many more

hours per week would she have to work to

balance her budget?

week, Tyrone wants to donate $100 to charity.

His weekly expenses are $595. How much will

Tyrone need to reduce his expenses in order to

make the donation and balance his budget?

A

6 hours

C

2 hours

A

$55

C

$50

B

5 hours

D

3 hours

B

$40

D

$45

© Houghton Mifflin Harcourt Publishing Company

Income

Name

17.7

?

Personal Financial

Literacy—5.10.E

Also 5.9.C

MATHEMATICAL PROCESSES

5.1.A, 5.1.D

Adjust a Budget

Essential Question

How can you balance a budget when expenses exceed income?

Families have many expenses. If they own a home, their budget includes

paying for a home loan. They may also budget for food, transportation,

utilities (electric, water, or natural gas bills), emergencies, savings, and

charitable giving.

Unlock

Unlock the

the Problem

Problem

The Smith family’s net monthly income is $3,350. The graph shows the

budget for the monthly expenses. The family car needs emergency

repairs that cost $725. How might the family change their budget

to pay for the car repairs and balance the budget?

Balance the budget.

Monthly Budgeted Expenses

The family income is $3,350.

1,000

What is the total of the budgeted expenses?

800

How much money is budgeted for emergencies?

600

__

So they need __ − __ or

Dollars

__

950

500

500

400

400

400

350

250

200

__ more to pay for the car repairs.

The family could try to decrease expenses,

such as ______.

0

n

oa

el

H

om

od

Fo

Em

ies

r

po

s

an

Tr

ion

tat

nc

e

erg

ies

ilit

Ut

le

ab

rit iving

a

h g

gs

vin

Sa

C

Expense Type

© Houghton Mifflin Harcourt Publishing Company

The family could try to increase income

by ______.

The family could withdraw money from their __ this

month and make it up in future months.

Module 17

653

Share

Share and

and Show

Show

Ryan’s Weekly Budget

Use the graph at the right for 1–3.

50

1. Ryan receives an allowance of $15 each week. He works shelving

books at the library 4 times a week and receives $20 each time.

He also gets $5 each week when he completes his chores at

home. Is Ryan’s budget balanced? Explain.

Dollars

40

28

30

20

20

20

12

10

10

10

2. Ryan does not do his chores this week. How much less is his

income than his expenses?

0

ks

ac

Sn

3. Explain two ways Ryan might be able to balance his budget

s

d

ty

an es hari

c

i

C

us am

M G

ing

v

Sa

s

ok

Bo

g

hin

ot

Cl

Expense Type

when he does not do his chores.

Math Talk

Mathematical Processes

Explain why balancing the

budget is important.

Problem

Problem Solving

Solving

5.

Write Math

How can you determine if a budget is balanced?

Write Math

How can you balance a budget if the expenses are

greater than income? Give examples.

6. Think about your weekly expenses. Name an expense that is easy to

reduce and one that is not.

654

© Houghton Mifflin Harcourt Publishing Company

4.

Name

Problem

Problem Solving

Solving

Use the table for 7–9.

7. Representations Michelle is a cook. Her net income

is $3,200 per month. Is Michelle’s monthly budget

balanced? Explain.

8.

9.

Multi-Step How can Michelle adjust the

expenses in her budget to balance it? Use the column to the

right to change amounts so her budget will be balanced.

Michelle decides to give up her

land-line telephone and reduce her

entertainment budget to $50. She also decides

to cater two parties to earn $250 for each party.

Use Michelle’s numbers to calculate if there is

enough money left over to buy an oven for $312.

Explain your reasoning.

Michelle’s Expenses

Rent

$675

Food

$800

Cable TV and Internet

$45

Land-line telephone

$29

Cell phone

$50

Clothes

$100

Savings

$200

Entertainment

$200

Loan payments

$250

Education

$150

Charitable donations

$200

Pet related

$75

Transportation

$385

Gas/oil/electric

$400

© Houghton Mifflin Harcourt Publishing Company

10. Multi-Step Alex works in a call center answering phones.

He earns $13 per hour after taxes and works 35 hours per

week. Each week, Alex is also paid $195 after taxes at his

part-time job. If Alex balances his budget, how much are

his weekly expenses?

Module 17 • Lesson 7

655

Mathematical Processes

M

Model ¥ Reason ¥ Communicate

M

Daily

Daily Assessment

Assessment Task

Task

Fill in the bubble completely to show your answer.

Use the chart for 11–12.

11. Which of the following changes can be made to

Dean’s January Budget

balance Dean’s budget?

Income

Expenses

A

Decrease the book purchases to $15.

Allowance: $25

Monthly cell phone: $18

B

Decrease the paper route income to $15.

Paper route: $20

Books: $20

C

Increase the movie rentals to $15.

D

Increase the paper route income to $22.

Movie rentals: $12

12. Multi-Step In February, Dean would like to get a new cell phone plan that

costs $30 per month. He can increase his paper route to $25 per month.

He would like to continue buying books and renting movies. Which of the

following will allow him to keep a balanced budget?

A

Keep his expenses the same, and increase his income by

$10 per month.

B

Spend no more than $15 on books and increase his income

by $5 per month.

C

Spend no more than $10 on books and $10 on movies.

D

Spend no more than $15 on books and $7 on movies.

13. Sandy’s expenses are greater than her income. Which of the following

could Sandy increase in order to balance her budget?

A

loan payment

C

charitable donations

B

music downloads

D

hourly pay

TEXAS Test Prep

balanced budget. If her other expenses are three-fourths as much

as her income, how much can she save each year?

656

A

$28,000

B

$700

C

$21,000

D

$7,000

© Houghton Mifflin Harcourt Publishing Company

14. Natalia’s net income is $28,000 per year. She would like to have a

H o mewo rk

and Practice

17.7

Personal Financial Literacy—5.10.E

Also 5.9.C

MATHEMATICAL PROCESSES 5.1.A, 5.1.D

Name

Adjust a Budget

Use the graph at the right for 1–2.

1. Jordan earns $10 each weekday for chores she completes

Jordan’s Weekly Budget

after school. Her mother pays her $20 on Saturday and

$15 on Sunday for helping with her catering business. Is

Jordan’s budget balanced? Explain.

Dollars

30

2. Next week, Jordan has a tennis match on Saturday and

cannot help her mother. What would be the difference

between her income that week and her expenses?

20

20

20

18

15

12

10

0

gs

vin

Sa

ty

ari

Ch

t

Pe

od

fo

y

bb

Ho plies

p

Su

is

nn

Te sons

s

Le

Expense Type

Problem

Problem Solving

Solving

Use the table for 3–4.

3. Jesse earns $2,500 per month after taxes, working at a car

repair shop. Is his budget balanced? Explain.

4. Sometimes Jesse works on his friends’ cars on the weekend

© Houghton Mifflin Harcourt Publishing Company

and earns an extra $100 per car. How can Jesse balance his

monthly budget?

Jesse’s

Monthly Expenses

Rent

$795

Food

$750

Cable

$80

Electric bill

$225

Clothes

$125

Savings

$200

Car loan

$200

Gas

$150

Cell phone

$55

Entertainment

$100

Module 17 • Lesson 7 657

TEXAS Test Prep

Lesson

Lesson Check

Check

Fill in the bubble completely to show your answer.

5. Mr. Porter wants to spend an extra $150 this

weekend on a family outing to the state fair.

Which of the following could be a way to adjust

his budget to allow for the extra expense?

A

Work fewer hours this week.

B

Work overtime.

C

Give money to charity.

D

Increase gasoline usage.

6. Alexis earns $50 a day for five days this week.

Her weekly expenses are $280. How can she

balance her budget?

A

Increase her income $5 each day.

B

Increase her income $20 this week.

C

Decrease her expenses by $30.

D

Decrease her expenses by $20.

Use the chart for 7–8.

Tatiana’s March Budget

Income

Expenses

Allowance $40

Sports Equipment $25

House cleaning $25

Meals with friends $35

Acting lessons $15

7. Which of the following changes can be made

to balance Tatiana’s budget?

A

Decrease spending on sports equipment

to $20.

B

Increase income from house cleaning to

$30.

C

Increase spending on acting lessons to

$25.

Decrease spending on meals with friends

to $25.

D

8. Multi-Step Tatiana would like to buy soccer

shoes that are on sale for $30. She will use her

sports equipment budget for part of the cost.

Which of the following plans will allow Tatiana

to have a balanced budget?

A

Increase her income by $15.

B

Spend only $15 on meals.

C

Spend only $20 on meals and increase

her house cleaning income by $15.

D

Increase her income by $60.

He earns $12 per hour after taxes and works 24 hours each week.

His weekly expenses total $324. How many more hours would

Duke need to work to balance his budget?

658

A

1 hour

C

4 hours

B

2 hours

D

3 hours

© Houghton Mifflin Harcourt Publishing Company

9. Multi-Step Duke works at a grocery store sacking groceries.

Name

Unit 6 Assessment

Vocabulary

Vocabulary

Vocabulary

Choose the best term from the box.

1.

___ is the income that is left after taxes.

budget

(p. 629)

2. A ___ is money added to the cost of items

or services. (p. 623)

3.

____ is a portion of the value of an item,

gross income

income tax

net income

property tax

sales tax

such as land. (p. 623)

4. The total income before any taxes are taken out is ____. (p. 629)

5.

___ is money that is paid to a city, state, or the U.S. government

based on earnings. (p. 617)

Concepts

Concepts and

and Skills

Skills

6. The monthly income for a family is $2,000. The family’s monthly

© Houghton Mifflin Harcourt Publishing Company

budget is shown. Describe two ways the family could adjust their

budget to put $300 in a savings account each month. q TEKS 5.10.E

Monthly Expenses

Rent

$800

Utilities

$65

Food

$400

Entertainment

$300

Clothing

$300

7. What are some advantages and disadvantages of using a debit card

over a credit card? q TEKS 5.10.C

Unit 6

659

8. A family’s monthly income is $2,100. Their monthly budget

TEXAS Test Prep

is shown. How can the family balance their budget if their

rent increases by $250? q TEKS 5.10.E

Monthly Expenses

Rent

$900

Utilities

$75

Food

$600

Entertainment

$300

Clothing

$200

9. Martin gets a check for $25 for his birthday on May 8th. The next day,

he spends $16 on CDs and $2.50 on stamps. Complete the table to

calculate the amount Martin has in available funds now. q TEKS 5.10.D

Date

Description

Amount Received ($)

Expenses ($)

Available funds ($)

Balance: end of April

0

5/4

babysitting

30

30

5/6

allowance

15

45

5/6

save

5

40

10. The total cost of an item is $98. If the item is purchased using automatic

payments, the buyer will need to make four payments of $26. How much

more does the item cost when using automatic payments? Explain. q TEKS 5.10.C

660

© Houghton Mifflin Harcourt Publishing Company

11. Sally got a pay raise. Her gross income increased by $500 and her net income

increased by $417. By how much did Sally’s taxes increase? q TEKS 5.10.B

Fill in the bubble completely to show your answer.

TEXAS Test Prep

12. Maura pays $0.02 in sales tax for every $1 that she spends. If Maura

buys $60 worth of items, what is the total cost? q TEKS 5.10.A

A

$60

B

$0.02

C

$1.20

D

$61.20

13. Raul pays property tax in Dallas. On which of the following might Raul

pay property tax? q TEKS 5.10.A

A

clothing

C

salary

B

office space

D

groceries

14. Lorena makes a list of the taxes she pays each month.

How much does she pay in payroll tax? q TEKS 5.10.A

A

$418.24

B

$21.35

C

$177.59

D

$240.65

15. Ralph makes a monthly budget. His monthly allowance is $40. He

makes $25 each month from mowing the neighbor’s lawn. Ralph’s

monthly expenses are $75. How much does he need to earn from

babysitting to balance his budget? q TEKS 5.10.F

A

$75

B

$10

C

$50

D

$35

Lorena’s Taxes

Sales Tax : $24.65

Federal Income

Tax : $116.24

Property Tax : $216

Other Payroll

Taxes : $61.35

© Houghton Mifflin Harcourt Publishing Company

16. Which of the following can Chaseedah use to purchase an item if she

wants to pay for her purchase at a later time? q TEKS 5.10.C

A

debit card

B

check

C

money transfer

D

credit card

Unit 6

661

TEXAS Test Prep

Fill in the bubble completely to show your answer.

17. The price tags at a clothing store do not include the sales tax in the

prices. Chase buys $210 worth of clothing at the store. He hands the

cashier $250 and receives three $5 bills and 89 cents in change. How

much sales tax does Chase pay on his purchase? q TEKS 5.10.A

A

$24.11

C

$40

B

$15.89

D

$210

18. Reema pays $11.05 in property tax for every $1,000 in value of her

land. If Reema’s land is worth $100,000, what will she pay in property

tax? q TEKS 5.10.A

A

$1,000

C

$100,000

B

$11.05

D

$1,105

19. The Perry family’s monthly net income is $2,900. They budgeted $1,200

for rent, $600 for food, $600 for clothing, $500 for entertainment,

and $200 for travel expenses. Which of the following actions

results in a balanced budget? q TEKS 5.10.E

Increase spending on food by $100.

B

Decrease spending on food by $20.

C

Decrease spending on entertainment by $200.

D

Increase spending on entertainment by $200.

20. Gina’s gross monthly income is $1,000. The pay stub shows the

amount of taxes she pays each month. What is Gina’s net

monthly income? q TEKS 5.10.B

Record your answer and fill in the bubbles on the grid. Be

sure to use the correct place value.

2608

Employee:

Gina Sanchez

Pay period:

November

Total earnings

$1,000.00

Federal income tax $110.50

State income tax

$30.75

Other taxes

$18.75

Total taxes

Pay after taxes

Detach and retain for your records.

5-2_MTXESE086753_55A

662

5th pass

12-13-12

LKell

.

0

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© Houghton Mifflin Harcourt Publishing Company

A

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