Mathematics, 24.09.2021 14:00 mv603177
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.
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)
Personal Budget
Income and Expenses
September
October
Income
Total income
Fixed expenses
Total fixed expenses
Variable expenses
Total variable expenses
Total
Total savings
If changes happen during September or October, which expenses will you be able to change most easily? Give an example of how you could make a change. (5 points)
In which month did you save more money? (5 points)
Page Break
Section 2: Adapting to Changes
Throughout your life, you will need to adapt your budget to respond to changes in your income and expenses. Now, it is time to practice making changes to a budget.
Change your previous budget to reflect these new factors. (10 points)
Your school announced that you will not have to pay for a bus pass to get to classes, because a new school program will cover this expense for all students.
You just found out that your books will cost more than you had expected. You will now need to spend an additional $100 on books in October.
You got an unexpected raise at work; you will now be making $650 each month.
Make sure that you are still meeting your overall goal of saving $100 by the end of October.
Personal Budget
Income and Expenses
September
October
Income
Total income
Fixed expenses
Total fixed expenses
Variable expenses
Total variable expenses
Total
Total savings
Page Break
After your budget changed, which month had greater fixed expenses?
(5 points)
Which variable expenses did you change in order to maintain your goal of saving at least $100 by the end of October? (5 points)
Answers: 3
Mathematics, 21.06.2019 13:30
34 cup. a serving of vegetable soup is 23 cup. the restaurant sold 20 servings of chicken noodle soup and 18 servings of vegetable soup. how many more cups of chicken noodle soup did they sell than cups of vegetable soup?
Answers: 2
Mathematics, 21.06.2019 15:30
Me! 50 points! why does when we come home, our door is unlocked and there is grease on the door knob, me solve this , and i don't know what category this goes under
Answers: 2
Mathematics, 21.06.2019 17:30
What values of x satisfy the inequality x^2-9x< 0? how is your answer shown on the graph?
Answers: 2
Mathematics, 21.06.2019 19:00
Find the equation of the line with slope =8 and passing through (6,53) write your equation in the form y=mx+b
Answers: 1
Section 1: Creating a Two-Month Budget
Imagine that you are a college student who lives away from...
Mathematics, 17.03.2020 20:26
Mathematics, 17.03.2020 20:26
Biology, 17.03.2020 20:26
Mathematics, 17.03.2020 20:26
Mathematics, 17.03.2020 20:26
Biology, 17.03.2020 20:26
Mathematics, 17.03.2020 20:26
Mathematics, 17.03.2020 20:26
Business, 17.03.2020 20:26
Business, 17.03.2020 20:27
History, 17.03.2020 20:27
Social Studies, 17.03.2020 20:27
Mathematics, 17.03.2020 20:27