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a) How much money is left for c) What do you consider to be luxury goods? Do you have money left over for b) What do you think falls into the category Other expenses? these types of goods and services? d) Think of three ways of reducing some of these expenses. Briefly explaine idea. Planning a Family Budget The Nyako family rents a modest home near the local school. Mr Nyako is a fter deductions. Mrs Nyako works​



Answer :

Answer:

Step-by-step explanation:

a) How much money is left for other expenses?

Calculate Total Income: Add Mr. Nyako’s and Mrs. Nyako’s monthly incomes after deductions.

List Fixed Expenses: Include rent, utilities, groceries, transportation, and any other regular monthly expenses.

b) What do you think falls into the category of other expenses?

Other expenses can include:

Entertainment (movies, dining out)

Clothing

Personal care items

Subscriptions (magazines, streaming services)                                                  

c) What do you consider to be luxury goods? Do you have money left over for these types of goods and services?

Luxury goods are non-essential items that are more expensive and often of higher quality. Examples include:

Designer clothing

High-end electronics

Fine dining

d) Think of three ways of reducing some of these expenses. Briefly explain each idea.

Cut Down on Dining Out: Prepare meals at home to save on food costs.

Cancel Unused Subscriptions: Review and cancel any subscriptions that are not being used regularly.

Energy Efficiency: Implement energy-saving measures at home to reduce utility bills, such as using LED bulbs and unplugging devices when not in use.