Question

Selena has been working at her first post-college job for almost a year when her company gives her a raise, resulting in a paycheck increase of $150, for a total of $300 extra in take-home pay every month. She makes a quick list of possible ways to use that money, along with relevant notes for each. Provide a detailed plan, including actual dollar amounts, for Selena to wisely use the extra $300 per month from her raise. For each part of the plan, briefly describe why you’re making this choice.

Answer 1

A detailed plan that Selena can make use of to wisely use the $300 is:

• Pay her student debt in installments of 10% of her income monthly.
• Use $100 to learn/invest in a skill that would also increase her income.

What is a Budget?

This refers to the financial plan that is made in order to account for the expenses, income, and other financial involvements for a set period of time.

Hence, to make a detailed plan for Selena who recently got a pay raise at her post-college job would be to pay off debts she has in installments and also to make investments in either a business or a skill to increase her income.

Read more about budgets here:

https://brainly.com/question/24940564

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