The budget and 50-30-20 rule from exercises 13 and 17. Evaluate the given budget with respect to
Question:
The budget and 50-30-20 rule from exercises 13 and 17.
Evaluate the given budget with respect to the 50-30-20 budget philosophy guidelines.
Data from Exercises 17
Referring to Exercise 13: Monthly income \(=\$ 4,580.00\)
Determine the amount of money that should be allocated to each of the three categories of the 50-30-20 budget philosophy guidelines.
Data from Exercises 13
Per month: paychecks \(=\$ 3,680\), consulting \(=\$ 900\), Mortgage \(=\$ 1,198.00\), Utilities \(=\$ 376\), Cell phone \(=\$ 67.50\), Car payments \(=\$ 627.85\), Car insurance \(=\$ 183.50\), Student loans \(=\$ 833\), Food \(=\$ 450\), Gasoline \(=\$ 275\), Internet \(=\$ 69\), Dining out \(=\$ 250\), Credit cards \(=\$ 375\), entertainment \(=\$ 300\)
Create the budget, including totals and how much the income exceeds or falls short of the expenses, based on the information given.
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