In: Advanced Math
Creating a Hypothetical Budget – Portfolio Activity
Expense |
Amount |
Rent (monthly) |
$657.00 |
Telephone (monthly) |
$56.34 |
Groceries (weekly) |
$56.00 |
Clothing (monthly with ½ job related) |
$106.00 |
Water & Electric (monthly) |
$98.87 |
Weekly Dinner & Movie |
$40.00 |
You are paid $11.75/hr. You work 40 hr/wk. Your deductions are FICA (7.65%), Federal tax withholding (10.75%), and state tax withholding (7.5%)
Be sure to include in your response:
Month 1
Realized Income: |
Amount |
Total Income |
|
Expense (Fixed): |
Amount |
Total Expenses (Fixed) |
|
Expense (Discretionary): |
|
Total Expenses (Discretionary) |
|
Total Expenses (Fixed & Discretionary): |
Month 2
Realized Income: |
Amount |
Total Income |
|
Expense (Fixed): |
Amount |
Total Expenses (Fixed) |
|
Expense (Discretionary): |
|
Total Expenses (Discretionary) |
|
Total Expenses (Fixed & Discretionary): |