Simple budget worksheet showing income, total expenses, and savings allocation with a pie chart and expense categories.

Simple Budget Worksheet with income, expenses, and savings breakdown, including a pie chart and expense list.

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- Calculate total expenses by summing all listed expense categories: $300 (Car) + $1,200 (Rent) + $100 (Utilities) + $200 (School Debt) + $500 (Credit Cards) + $400 (Groceries) + $350 (Other) = $3,050.
- Determine total savings by subtracting total expenses from income: $3,450 (Income) - $3,050 (Total Expenses) = $400.
- Allocate the $400 savings according to the specified percentages: 40% for Savings ($160), 25% for Emergency ($100), 20% for Debt Payoff ($80), and 15% for Other Goals ($60).
- Verify the allocation totals 100% and sums to $400: $160 + $100 + $80 + $60 = $400.

Parent Tip: Review the logic above to help your child master the concept of simple monthly expense worksheet.

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