Income Sources

Part of Money: Basic Budgeting

May 21, 2017

Step 1: Work out your income

First things first – we need to think about where we get our income from.

We want to work with monthly budgets, so we need to convert any bi-weekly income to monthly.

To convert weekly income, multiply it by 52 (number of weeks per year) then divide by 12 (months)

Reveal Answer

$__
To convert bi-weekly income, multiply by 26 (number of fortnights in a year) then divide by 12 (months)

Reveal Answer

$__

We want to get one number as our monthly income. Try not to include surprises – don’t count on a gift or a lottery win to make your budget work.

Question: Next week we’ll look at expenses. But for today just work out your monthly income.