Explanation:
Old Budget:Total Income: $1,850
New Budget: Total Income: $2,190
One-Year Total: $26,280
OLD BUDGET:
Fixed Expenses:
Rent: $620
Renters insurance: $20
Car payment, insurance, gas: $475
Variable Expenses:
Entertainment: $50
Groceries: $300
Computer Savings: $0
Discretion spending: $75
Utilities, phone & internet: $230
NEW BUDGET:
Fixed Expenses:
Rent: $620
Renters insurance: $20
Car payment, insurance, gas: $475
Variable Expenses:
Entertainment: $50
Groceries: $300
Computer Savings: $50
Discretion spending: $75
Utilities, phone & internet: $230
One- Year Totals:
Total Income: $26,280
Rent: $7,200
Car payment, insurance, gas: $5,700
Total Fixed Expenses: Old & New Budget: $1,095
Total Fixed Expenses One-Year Total: $13,140
Entertainment: $600
Groceries: $3,600
Computer Savings: $600
Discretion spending: $900
Utilities, phone & internet: $2,760
Total Variable Expenses: Old Budget: $1,750
Total Variable Expenses: New Budget: $1,800
Total Variable Expenses One-Year Total: $8,460
Total expenses: Old Budget: $1,750
Total expenses: New Budget: $1800
Total expenses: One-Year Total: $21,600
Total Net Savings: Old Budget: $100.00
Total Net Savings: New Budget: $390.00
Total Net Savings: One-Year Total: $4,680
Questions:
2. The net income changed the most, increasing by $340.
3. The new budget saves $50 a month towards the purchase of the laptop.
4. The new budget allowed me to save $400 toward college savings.
