Alex is attending college in his hometown and has a part time job. He earns $7.50 per hour and he works 34 hours per week. Alex’s payroll deductions are 28% of his gross income. Calculate with the assumption that there are four weeks per month. Alex is renting an efficiency apartment which costs $215 per month. Electricity, water, and gas are included in the rent. He has a cable bill that is $40 per month and a cell phone bill that is $85.00 per month. He has a motorcycle payment of $105 per month, plus insurance and operating expenses which total $40 per month. Alex uses an estimate of 15% of his net income to determine how much he will spend on food. He also saves 5% of his net income for an emergency. PER MONTH Gross Income (Total Salary ÷ 12) $ Deductions (Monthly Salary) × (Percent as a Decimal) $ TOTAL NET INCOME $ Food (Monthly Amount) × (% as a Decimal) $ Housing $ Phone Bill $ Transportation (Car Payment) + (Expenses) $ Cable $ Emergency Expenses (Net Income) × (% as a Decimal) $ TOTAL FIXED EXPENSES $ Net Income $ Total Fixed Monthly Expenses $ SPENDABLE INCOME $