Question

1.    You have an annual salary of $62,000 from which they deduct 3% for medical insurance and 18% for taxes. Your rent is $1200 a month. Your water bill comes every 3 months for $123, and your light bill is $138 a month. You have a child that goes to a 30-minute piano class twice a week for $18 per session and you receive child support for that child every month in the amount of $125. Every week you put 130 miles on your car that gives you 20 miles per gallon and gas cost $2.27 per gallon. You pay a premium of $1,019 every six months for car insurance. You spend $120 a week on food. You also have a student loan that you are paying $150 on every month. and you spend $100 every 2 weeks just to treat yourself.

make a monthly budget and find your monthly cash flow. You must show work (Assume, that there are 52 weeks in a year)

Answer 1