6.2 Pie Charts - Personal Finance: Introduction

Copyright 2014 © W. Seth HunterConsumerMath.org

L6.2 Pie Charts

Don’t let your bills rule you. Set a budget, and decide what you will spend, then live within your budget.

The easy to see view of where your

money is going.


L6.2 Pie Charts

Lesson Objective

Students will learn how to create a pie chart based on their budget.


L6.2 Pie Charts

Pie Chart

A Pie Chart is a type if graph, drawn in a circle, that defines each section’s proportion in relation to the whole.


L6.2 Pie Charts

Equations

The equations we will use for this lesson:

Percent of Total:

Amount ÷ Total of all Amounts = % of Total

Percent of 360⁰:

% of Total x 360⁰ = % of 360⁰


L6.2 Pie Charts

Steps to making a Pie Chart

Rent $ 79.15 Utilities $ 50.71 Car $ 52.84 Gas & Maint. $ 25.07 Food $ 27.23 Misc. Expenses $ 15.00 Total Expenses $ 250.00

• My dad has agreed to help me pay my college tuition, but before he will do so he wants to see where I am spending my money.

• I want to make a pie chart that shows him where its going, and I want it to look nice. This is my monthly budget. Where should I start?


L6.2 Pie Charts


% of total

% of 360⁰

Rent $79.15 Utilities $50.71 Car $52.84 Gas & Maint. $25.07 Food $27.23

Misc. Expenses $15.00

Total Expenses $250.00

Step 1:Find each expense’s percent of the total:• Divide the

expense by the budget’s Total Expenses.

• Ex: Rent is 79.15 / 250 =



L6.2 Pie Charts


% of total

% of 360⁰

Rent $79.15 32%Utilities $50.71 Car $52.84 Gas & Maint. $25.07 Food $27.23





• Ex: Rent is 79.15 / 250 =


0.32 or 32%


L6.2 Pie Charts


% of total

% of 360⁰

Rent $79.15 32%Utilities $50.71 Car $52.84 Gas & Maint. $25.07 Food $27.23





• Ex: Rent is 79.15 / 250 =


Try the rest…


L6.2 Pie Charts


% of total

% of 360⁰

Rent $79.15 32%Utilities $50.71 20%Car $52.84 21%Gas & Maint. $25.07 10%Food $27.23 11%

Misc. Expenses $15.00 6%

Total Expenses $250.00 100%



• Ex: Rent is 79.15 / 250 =

Add your totals. Make sure they come to 100%.



L6.2 Pie Charts


% of total

% of 360⁰

Rent $79.15 32%Utilities $50.71 20%Car $52.84 21%Gas & Maint. $25.07 10%Food $27.23 11%



Step 2:Next find each expense’s percent of the circle:• Multiply the %

of total by 360 (for 360°).

• Ex: Rent is .32 x 360 =

% of Total ÷ 360⁰ = % of 360⁰

Remember that 32% is written as .32


L6.2 Pie Charts


% of total

% of 360⁰

Rent $79.15 32% 114°Utilities $50.71 20%Car $52.84 21%Gas & Maint. $25.07 10%Food $27.23 11%





• Ex: Rent is .32 x 360 = 114° (Round to the one’s place)

% of Total ÷ 360⁰ = % of 360⁰


L6.2 Pie Charts


% of total

% of 360⁰

Rent $79.15 32% 114°Utilities $50.71 20%Car $52.84 21%Gas & Maint. $25.07 10%Food $27.23 11%





• Ex: Rent is .32 x 360 =

% of Total ÷ 360⁰ = % of 360⁰

Try the rest…


L6.2 Pie Charts


% of total

% of 360⁰

Rent $79.15 32% 114°Utilities $50.71 20% 73°Car $52.84 21% 76°Gas & Maint. $25.07 10% 36°Food $27.23 11% 39°

Misc. Expenses $15.00 6% 22°

Total Expenses $250.00 100% 360°



• Ex: Rent is .32 x 360 =

Add your totals. Make sure they come to 360°

% of Total ÷ 360⁰ = % of 360⁰


L6.2 Pie Charts

Steps to making a Pie ChartStep 3:Draw a circle• Use a compass

and/or protractor to mark degrees.


L6.2 Pie Charts

Steps to making a Pie ChartStep 3:Draw in the sections for each part of the budget.

Rent-114 Degrees

Utilities-73 Degrees

Car-76 Degrees

Gas-36 Degrees

Food-39 Degrees

Misc.22 Degrees


L6.2 Pie Charts

Budget

Steps to making a Pie ChartStep 4:Color and Label your chart.

Rent32%

Utilities20%

Car21%

Gas & Maint.10%

Food Costs11%

Misc.6%


L6.2 Pie Charts

Comparing Budgets

Chart accessed 7/29/2011 from: http://www.creditloan.com/infographics/how-the-average-consumer-spends-their-paycheck/

The Department of Labor did a survey in 2009. This is where they concluded that the average American family spends their money.

How does it compare to your budget?

Expenses %

Housing 34.43%

Food 12.99%

Transportation 15.61%

Health Care 6.37%

Entertainment 5.49%

Insurance / Pensions 11.15%

Clothes & Other Services 3.51%

Everything Else 10.45%


L6.2 Pie Charts

Review:

1. What is a Pie Chart?

2. What is the equation for calculating the percent of total?

3. What is the equation for calculating the Percent of 360⁰?


L6.2 Pie Charts

Review:

1. What is a Pie Chart?

2. What is the equation for calculating the percent of total?

3. What is the equation for calculating the Percent of 360⁰?

No. It is not a chart showing how much pie you ate last week.

It is a type if graph, drawn in a circle, that defines each section’s proportion in relation to the whole.


% of Total ÷ 360⁰ = % of 360⁰

Documents

6.2 Pie Charts - Personal Finance: Introduction