Plan a monthly budget for a family with a fixed income and explain the steps involved.

1. 1 · Open in two lines. A budget is a plan for spending and saving income over a set period. A family with a fixed income needs one most.
2. 2 · Types, briefly. Balanced (income = expenditure), surplus (income > expenditure), deficit (expenditure > income).
3. 3 · Steps in planning.
   • Estimate the net income; list needs and goals.
   • Allot fixed expenses and savings first.
   • Divide the rest among flexible expenses by priority.
   • Balance, act, keep accounts and review.
4. 4 · Draw the budget table. [Table: head of expenditure, percentage and amount in rupees for a ₹40,000 monthly income, totalling 100% and ₹40,000]
5. 5 · Comment on it. Food is the largest share (35%); savings are 10% and planned first.
6. 6 · Advantages. The family lives within its income, avoids debt, saves regularly and puts needs before wants.
7. 7 · Nutrition link. Choose foods that give more nutrients per rupee: pulses, millets, eggs, seasonal vegetables.
8. 8 · Close in one line. A planned, balanced budget gives the family security today and savings for tomorrow.

Scoring tip: Make sure your percentages add to 100 and your rupee amounts add to the income. Examiners check the totals first.