5. Savings If I manage to save R80 every month, how long must I save to buy myself a new computer game at R499.95? 6. Track your budget Using the table below, draw up a budget in your writing book. Complete your budget and track your actual expenses for the next month. \begin{tabular}{|l|l|l|l|}\hline Income & Actual amount & Estimated amount & Difference \\ \hline & & & months \\ \hline stimated total income & & & \\ \hline xpenses & & & \\ \hline & & & \\ \hline timated total expenses & & & \\ \hline Income & & & \\ \hline\end{tabular}

Sure, let's tackle both of your tasks step by step. --- ### **5. Savings Calculation** **Problem Statement:** *If you save **R80** every month, how long must you save to buy a new computer game that costs **R499.95**?* **Solution:** To determine how many months you need to save **R80** each month to afford a computer game costing **R499.95**, you can use the following formula: \[ \text{Number of Months} = \frac{\text{Total Cost}}{\text{Monthly Savings}} \] Plugging in the values: \[ \text{Number of Months} = \frac{499.95}{80} = 6.249375 \] Since you can't save a fraction of a month, you'll need to round up to the next whole number. \[ \text{Number of Months} = 7 \text{ months} \] **Answer:** You need to save for **7 months** to afford the computer game costing **R499.95** by saving **R80** each month. --- ### **6. Track Your Budget** **Task:** *Using the table below, draw up a budget in your writing book. Complete your budget and track your actual expenses for the next month.* It seems there was a formatting issue with the table you provided. I'll present a clear and organized budget table for you. You can recreate this in your writing book and fill it out with your personal income and expenses. --- #### **Monthly Budget Tracker** | **Category** | **Estimated Amount (R)** | **Actual Amount (R)** | **Difference (R)** | |-------------------------|--------------------------|-----------------------|--------------------| | **Income** | | | | | - Salary | | | | | - Other Income (e.g., side jobs) | | | | | **Total Income** | | | | | | | | | | **Expenses** | | | | | - Rent/Mortgage | | | | | - Utilities (Electricity, Water, etc.) | | | | | - Groceries | | | | | - Transportation (Fuel, Public Transport) | | | | | - Entertainment | | | | | - Savings | | | | | - Miscellaneous | | | | | **Total Expenses** | | | | | | | | | | **Net Income** | | | | --- #### **How to Use the Budget Tracker:** 1. **Estimated Amount (R):** - **Income:** List all sources of income and estimate the amounts you expect to receive each month. - **Expenses:** List all your monthly expenses and estimate how much you plan to spend in each category. 2. **Actual Amount (R):** - **Income:** At the end of the month, record the actual amounts you received. - **Expenses:** At the end of the month, record the actual amounts you spent. 3. **Difference (R):** - Calculate the difference between your **Actual Amount** and your **Estimated Amount** for each category. - This will help you identify areas where you spent more or less than planned. 4. **Net Income:** - Subtract **Total Expenses** from **Total Income** to determine if you saved money or overspent. --- #### **Example:** | **Category** | **Estimated Amount (R)** | **Actual Amount (R)** | **Difference (R)** | |-------------------------|--------------------------|-----------------------|--------------------| | **Income** | | | | | - Salary | 5,000 | 5,000 | 0 | | - Freelance Projects | 1,000 | 1,200 | +200 | | **Total Income** | 6,000 | 6,200 | +200 | | | | | | | **Expenses** | | | | | - Rent/Mortgage | 2,000 | 2,000 | 0 | | - Utilities | 500 | 450 | +50 | | - Groceries | 1,200 | 1,250 | -50 | | - Transportation | 600 | 550 | +50 | | - Entertainment | 400 | 500 | -100 | | - Savings | 800 | 800 | 0 | | - Miscellaneous | 500 | 600 | -100 | | **Total Expenses** | 6,000 | 6,050 | -50 | | | | | | | **Net Income** | 0 | +150 | | **Interpretation:** - **Income:** You earned an extra **R200** from freelance projects. - **Expenses:** You overspent by **R50** on groceries and entertainment but saved **R100** elsewhere. - **Net Income:** You have a positive net income of **R150**, indicating that you spent less than you earned. --- **Tips for Effective Budgeting:** 1. **Be Realistic:** Estimate your income and expenses as accurately as possible. 2. **Track Regularly:** Update your budget tracker consistently to monitor your financial habits. 3. **Adjust as Needed:** If you notice consistent overspending in a category, adjust your budget or find ways to reduce expenses. 4. **Prioritize Savings:** Treat your savings like a regular expense to ensure you're setting money aside each month. 5. **Review Monthly:** At the end of each month, review your budget to see where you can improve for the next month. By maintaining and reviewing your budget regularly, you'll gain better control over your finances and make informed decisions to achieve your financial goals. --- If you need further assistance with budgeting or any other financial calculations, feel free to ask!