4. Using Exhibit 2–6, Typical After-Tax Budget Allocations for Different Life Situations, calculate the budget allocations for Jamie Lee using her net monthly salary (or after-tax salary) amount. Is she within the recommended parameters for a student?

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Assets: Checking account: $1,250 Emergency fund savings account: $3,100 Car: $4,000 Liabilities: Student loan: $5,400 Credit card balance: $400 Savings: Regular savings: $150 Emergency savings: $25 Income: Gross monthly salary: $2,125 Net monthly salary: $1,560 Monthly Expenses: Rent obligation: $275 Utilities obligation: $125 Food: $120 Gas/Maintenance: $100 Credit card payment: $50 Entertainment: Cake decorating class: $35 Movies with friends: $50