Business Mathematics

 

Budget/Salary: ₱29,000/month

 

Categories:

Rent/Mortage- 20% (₱5,800)

Groceries- 13% (₱3,770)

Transportation(gas)- 5% (₱1,450)

Utilities(electricity,water,internet, etc.)- 22% (₱6,380)

Savings- 15% (₱4,350)

Entertainment/Leisure- 15% (₱4,350)

Miscellaneous(other expenses)- 10% (₱2,900)

Total: 100% (₱ 29,000)

       

        We allocate our budget as follows: 20% for rent or mortgage, as the typical payment for housing ranges from 3,000 to 5,000 pesos. We assign 13% for groceries because prices, especially for food, have risen considerably. We spend about 5% on transportation monthly, as we only need to refuel once to thrice a month, and the cost for round-trip travel ranges from 20 to 50 pesos, depending on the location. Utilities are our most significant expense, with electricity being the most costly. We save 15% of our salary for emergencies and another 15% for entertainment and leisure, as it's difficult to predict entertainment expenses. Finally, we allocate 10% for miscellaneous expenses, as we also need to spend on ourselves and our loved ones to alleviate fatigue.