In the example above, after Carol added before school care for her daughter to the budget, her budget was as shown below. Evaluate Carol's budget using the 50-30-20 budget philosophy.

Data from Example 51

In the example above, Carol had excess income of \(\$ 708.00\). She looks up the cost of before-school care for her daughter. She finds that, monthly, the cost would be \(\$ 252.00\) per month. Is this an affordable program for Carol? Add this expense to her budget table.

Data from Example 50

Carol is working in a dental lab, creating dentures and bridges. Monthly her take home pay is \(\$ 2,816\) (based on \(\$ 22\) per hour minus payroll taxes). She also receives \(\$ 320\) per month in child support for her one daughter. Her monthly expenses are rent at \(\$ 700\), car payments at \(\$ 229\), student loan payments at \(\$ 250\), car insurance at \(\$ 119\), health insurance at \(\$ 225\), utilities at \(\$ 80\), clothing at \(\$ 75\), entertainment at \(\$ 200\), food at \(\$ 275\), and gasoline at \(\$ 275\). Create Carol's budget in a table, compare the total income to total expenses, and determine how much excess income per month she has or how much she falls short by each month.

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Income Source Amount Expense Amount Job $2,816.00 Rent $700 Child support $320.00 Car Payment $229 Student Loan $250 Car Insurance $119 Utilities $80 Health insurance $225 Clothing $75 Entertainment $200 Food $275 Gasoline $275 Before-school care $252