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U1L2 budget percents
- 1. Questions about Percents? Image from MSClipArt
- 2. How do I find the percent of a number? Image from MSClipArt
- 3. Why do I need to find the percent of a number? Image from MSClipArt
- 4. Both of these are very good questions! When you create a budget, you need to know how much of your income you need to set aside for expenses.
- 5. Remember that income is money that “comes in.” An Expense is money that is paid out. Image from MSClipArt
- 6. Also remember that an expense can be one of two things: a want or a need. Images from MSClipArt
- 7. So, what does all of this have to do with finding percents? Image from MSClipArt
- 8. When you plan your budget, you need to find what percent of your income you will need for your expenses. Image from MSClipArt
- 9. So, what does that look like? Images from MSClipArt
- 10. Let’s say you have an income of $1200. You need to use 60% of it to pay your monthly bills. How much money do you need to set aside for monthly bills? Image from MSClipArt
- 11. To find how much money you need, you multiply 1200 by 60%. To do this, you first change 60% to a decimal. Drop the percent sign and move the decimal 2 places to the left. 60% = .60 1200 x .60 = 720 So you will need $720 to pay your monthly bills!
- 12. Let’s look at some more examples. 1. 32% of $1500 (change % to decimal) .32 x 1500 (multiply decimal by 1500) $480 2. 45.8% of $2650 .458 x 2650 $1213.70
- 13. Now it’s your turn! You can do it! Make sure you have a calculator handy and don’t forget to change the percent to a decimal! 1. 35% of $2400 2. 42.6% of $1650 3. 70% of $3350 4. 66% of $4675 Image from MSClipArt
- 14. ANSWERS: 1. $840 2. $702.90 3. $2,345 4. $3,085.50 Image from MSClipArt