Section 1: Creating a Two-Month Budget Imagine that you are a college student who lives away from home. You have a work-study job at your college library, and you earn about $600 each month. You have one major long-term goal: you want to save up money to visit your family soon, and you need at least $100 for your train tickets.
1. Create a budget that will allow you to save at least $100 by the end of October. (10 points)
Make sure your budget includes these fixed expenses:
· The cost of rent ($250 each month for your shared apartment)
· The cost of your bus pass ($40 each month)
· The cost of books ($150, but only in September, at the beginning of the school year)
Make sure your budget considers these variable expense categories:
· The cost of food
· The cost of clothing
· Discretionary spending (money to spend freely)