Question

You have just been promoted at your job, and now you have a net income of $2,190. You would like to use this income to meet new financial goals. 1. Create a budget that will allow you to save at least $100 by the end of October. (10 points) Remember, your old budget reflected a net income of $1850.00 and included these expenses: • $600 for your rent • $475 for your car payment, car insurance, and gas • $230 for your utilities, phone, and Internet • $300 for your groceries • $50 for your entertainment • $20 for your renters insurance • $75 for discretionary spending • A final net total of $100 saved per month Your new budget needs to include these changes: • A new line to budget $50 per month toward a new computer • Other expenses may be modified as you choose. • A final net total of at least $300 saved per month

Answer 1

Answer: $300 saved per month

Step-by-step explanation:

new budget $2,190.

• rent $650
• car, insurance and gas $480
• utilities, phone and internet $250
• groceries $300
• entertainment $50
• rentals $30
• discretionary spending $80
• new line budget $50

total $1890

final net total =
`2190 - 1890\\`

= $300 saved per month

it say we need to save at least $300 per month, what this implies is that the minimum we can save is $300.