Subjects personal finance

Family Budget 1100C0

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1. **State the problem:** A family has 500000 Frw and wants to do four projects: paying school fees (120000 Frw), painting a house (100000 Frw), buying food (200000 Frw), and buying clothes (150000 Frw). We need to order these needs by priority, find the total money required, check if they have enough money, and identify which item can be done later. 2. **Order the family needs according to priority:** Typically, basic needs like education and food are prioritized over others. So the order by priority is: 1. Paying school fees (120000 Frw) 2. Buying food (200000 Frw) 3. Buying clothes (150000 Frw) 4. Painting a house (100000 Frw) 3. **Calculate the total money required:** Use the formula for total cost: $$\text{Total cost} = 120000 + 100000 + 200000 + 150000$$ $$= 570000$$ 4. **Check if the family has enough money:** They have 500000 Frw but need 570000 Frw. Since $500000 < 570000$, they do not have enough money. 5. **Identify the item that can be done later:** Since painting the house costs 100000 Frw and is the lowest priority, it can be done later to fit the budget. **Final answers:** - Priority order: school fees, food, clothes, painting house. - Total money required: 570000 Frw. - They do not have enough money. - Painting the house can be done later.