BUSINESS MATHEMATICS

1. Rent/Mortgage (8%):

   - This category covers your housing costs, which include rent or mortgage payments. It's a critical expense as having a safe and stable place to live is a fundamental need. Allocating 8% of your income ensures that you can meet this primary requirement without straining your budget.

2. Groceries (35%):

   - Groceries are arguably the most important category in your budget. This is where you allocate 35% of your income. Proper nutrition is essential for your health and well-being, so it's crucial to ensure that you have enough funds to buy quality food to meet your dietary needs.

3. Transportation (15%):

   - This category includes expenses related to commuting, whether you use public transportation or have a car. Allocating 15% of your income to transportation ensures that you can get to work, run errands, and maintain your vehicle without overspending.

4. Utilities (15%):

   - Utilities encompass electricity, water, heating, and internet. These are essential services for modern living. Allocating 15% ensures that you can comfortably cover these bills without financial stress.

5. Savings (12%):

   - Savings are a vital component of financial stability. By allocating 12% of your income to savings, you're building a safety net, saving for future goals, and preparing for unexpected expenses or emergencies.

6. Entertainment/Leisure (6%):

   - While not as essential as the categories above, entertainment and leisure are important for maintaining a balanced and enjoyable life. Allocating 6% allows for some discretionary spending on activities you enjoy, be it hobbies, dining out, or leisurely outings.

7. Miscellaneous (9%):

   - This category serves as a buffer for unexpected or irregular expenses that may arise during the month. It could cover things like medical co-pays, minor home repairs, or other unforeseen costs. Allocating 9% ensures you have some flexibility within your budget.

CONCLUSION:

This budget allocation plan distributes my monthly income of P29,000 responsibly and rationally among essential categories. It prioritizes groceries, transportation, and utilities, allocating 35%, 15%, and 15% respectively to ensure my basic needs are met. Rent/Mortage is allotted 8%, savings 12%, and entertainment 6%, striking a balance between financial security and enjoyment. A 9% allocation to miscellaneous expenses provides flexibility for unforeseen costs. This comprehensive plan ensures that I can maintain a comfortable lifestyle without exceeding my income, while also securing my future through savings.