Alex is paid semi-monthly. He earns $922 every pay period. The list shows his expenses: Rent: $315/month Gasoline: $40/week Car Insurance $105/month Car Maintenance: $30/month Groceries: $60/week Laundry: $8/week Clothes $85/month Entertainment: $30/week Gifts: $25/month Savings: 10% income/month a) Design a monthly budget for Alex. Income ($) Expenses ($) Total Total Balance b) Explain the meaning of his monthly balance.
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Alex is paid semi-monthly. He earns $922 every pay period. The list shows his expenses:
Rent: $315/month Gasoline: $40/week
Car Insurance $105/month Car Maintenance: $30/month
Groceries: $60/week Laundry: $8/week
Clothes $85/month Entertainment: $30/week
Gifts: $25/month Savings: 10% income/month
a) Design a monthly budget for Alex.
Income ($) Expenses ($)
Total Total
Balance
b) Explain the meaning of his monthly balance.
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Solved in 3 steps
- Carl is a student at a college. He has a part-time job with take-home pay of $525 every two weeks. He has received a scholarship of $4100 this year. a) Use the data provided to design a monthly budget for Carl. Show your calculations for his income and expenses. Identify each expense as fixed or variable. b) Is Carl earning enough to cover his expenses? If not, suggest how he could balance the budgetJane budgets 9% of her net salary for groceries. If she spent $450 on groceries last month, what is her monthly net salary?Angela's monthly disposable income is $3,188. She has monthly expenses of $2,869 (including recreational expenses of $404) and net cash flow of $319 per month. Angela makes a budget based on her personal cash flow statement. In two months, she must pay $389 for tags and taxes on her car. How much can Angela expect to save in the next 12 months?
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