83e/MyFiles/ Downloads/Unit_5_Final_Summative Assessment_2021%20(1).pdf 19 / 15 Unit 5 Summative 2021 - Part 5 Introduction Picture yourself 5 to 6 years in the future. You are about 22 years old, done with college, trade school or any other options you chose for yourself after high school. You are out of your parents' house, you have your first job and are now completely on your own!! You must now figure out how you are going to budget your money based on a salary of $36,000 a year. I have provided you with an example budget. You could use a spreadsheet to assist with your budget. The Task Now that you are ready to jump into the working world, your job is to create a personal budget from scratch. Do not assume that you have anything! You must buy a car and have an apartment. If you went to college, you will have student loans. Don't assume your parents have given you anything. Based on a salary of $36,000 a year (you must compute for tax deductions), create a budget. The areas that you must include are as follows: FIXED EXPENSES Rent (payment per month) Renters Insurance (payment per month) Automobile (monthly payment) Auto Insurance (monthly payment) Health Insurance (monthly payment) Credit Card Student loans (monthly payment if applicable) Long Term Savings Emergency VARIABLE EXPENSES Food (groceries, restaurants, snacks) cell phone electricity clothing entertainment (movies, dining out. sporting events) Internet haircuts vacations gas (car) cable tv GO hn