Question

your realized (net) income is $3,167.89/month, and your fixed expenses are $1,054.32/every 2 weeks. if you save 50% of your discretionary monies each month, how much are you saving?

Answer 1

Answer: Sorry for the late response. To calculate how much you are saving each month, you will need to first calculate your discretionary income, which is your net income minus your fixed expenses. In this case, your fixed expenses are $1,054.32 every 2 weeks, or $2,108.64 every month. If your net income is $3,167.89, then your discretionary income is $3,167.89 - $2,108.64 = $1,059.25.

If you save 50% of your discretionary income each month, then you are saving 50% * $1,059.25 = $529.62.