Budget Profile B Personal Profile: Dave and Anna Dave and Anna are married with 2 young children (ages 5 and 7 years old). Their combined take home pay is $900 per week. They own a town house with a bi-weekly mortgage of $675. Property taxes are $1800 annually. Their car expenses are $160 monthly and their car insurance costs $128 for 2 cars every month. House insurance is currently $35 monthly. Dave and Anna save into an RESP for the children ($200 every month). 1.Use one highlighter to identify all sources of income. Total the income for each month.

2.Use a different highlighter to identify all sources of expense. Total the expenses for each month.

3. Subtract the Total Expenses from the Total Income for each month.

A Surplus is when your Income minus Expenses = a positive number. A Shortage is when your Income minus Expenses = a negative number. Does they have a surplus or a shortage?