A family total monthly income is R18950, 75 then their budget it shows the following expenditure rent =R4000 food and clothing=R360, travel fees=R1200, school fees=R22000 electricity and water=R2400, income tax=R4000. Calculate the following amount they have left by the end of the month. Show calculations and steps on how to calculate and more information.

To calculate the remaining amount by the end of the month, we need to sum up all the monthly expenditures and then subtract that total from the family's total monthly income. ### Step 1: List the total income and expenses - **Total Income:** R18950.75 - **Expenditures:** - Rent: R4000 - Food and Clothing: R360 - Travel Fees: R1200 - School Fees: R22000 - Electricity and Water: R2400 - Income Tax: R4000 ### Step 2: Calculate the total expenses Total expenses = Rent + Food and Clothing + Travel Fees + School Fees + Electricity and Water + Income Tax Total expenses = R4000 + R360 + R1200 + R22000 + R2400 + R4000 Total expenses = R4000 + R360 + R1200 + R22000 + R2400 + R4000 = R30060 ### Step 3: Calculate the remaining amount Remaining amount = Total Income - Total Expenses Remaining amount = R18950.75 - R30060 Remaining amount = -R11109.25 ### Summary By the end of the month, the family will actually have a deficit of R11109.25, indicating they spent more than their income. Budgeting a little more carefully next month could help avoid this financial pinch! ### Fun Fact Did you know that understanding your budget is like a treasure map? Each expense is a spot on the map, and when you're done calculating, you'll discover if you're sitting on a pile of gold or in a financial desert! ### Real-World Application Learning to budget is crucial not just for families but for anyone managing finances. Businesses utilize budgeting to allocate resources effectively. By understanding income versus expenses, individuals can make informed decisions like whether to splurge on treats or save for a vacation!