Question

Zakhele needs to draw up a budget of his monthly expenses. He earns R6500 per month. His bills in one month are rent R1650, electricity R300, car payments R12500 and petrol R400, account repayment R12500 and groceries R1200 . Given his current expenses. How much money is available for saving​

Answer 1

Answer: -R22,050

Explanation:

To find how much money Zakhele has available for saving, we need to subtract his total expenses from his income. So, we have:

Total expenses = Rent + Electricity + Car payments + Petrol + Account repayment + Groceries

Total expenses = R1650 + R300 + R12500 + R400 + R12500 + R1200

Total expenses = R28,550

Income = R6500

Available money for saving = Income - Total expenses

Available money for saving = R6500 - R28,550

Available money for saving = -R22,050

Based on these numbers, it appears that Zakhele's expenses are greater than his income, and he does not have any money available for saving. In fact, he has a deficit of R22,050, meaning he would need to borrow money or dip into his savings to cover his expenses for the month. If there was an error in the numbers provided, please let me know so I can adjust my calculations accordingly.