Answer the following questions

Monthly Income and Expenses Cassandra's New Budget Opening Balance S S Income Wages or Salary (paycheck) $ 2180.00 S Other Regular Monthly Income $0.00 S Total Income Plus Opening Balance $2180.00 S Monthly Expenses Housing Utilities Food Household Incidentals Transportation Personal Allowance un Medical Expenses un Recreation and Entertainment Life Insurance $ Personal loans Credit Card Payments Saving, Contributions and Donations Other Total monthly Expenses un Annual Expenses Transportation Clothing House Maintenance and Renovations Education Medical Expenses Seasonal Gifts and Recreation Gifts and Festivities Travel and Vacations Total Annual Expenses un Total Monthly and Annual ExpensesU2, Assignment #1: Total Marks: 10 While managing your finances may sound boring, or seem difficult, it's probably one of the easiest and most important things you will manage in your life! Many bookstores and websites can offer a variety of advice on how to manage your financial future. Financial wisdom suggests that you should try to save at least 10% of each paycheque. You should also set aside money for emergencies or in case you get fired or laid off from your job. Provide a list of at least five suggestions regarding some changes that Cassandra can make to realistically decrease her monthly expenses in order to be able to save money. See her budget below. Make sure that you include a new budget for Cassandra detailing the savings. Cassandra's Paycheque Cassandra's Monthly Expenses Gross Earnings (Bi-weekly) $1,538.37 Deductions Rent $ 750.00 CPP $ 31.06 Car Payment $ 230.00 EI 44.62 Car Maintenance $ 200.00 Federal Tax $ 372.69 Hydro 80.00 Total Deductions $ 438.37 Phone $ 50.00 Cable $ 50.00 Net Earnings (Bi-weekly) $1,090.00 Cell Phone $ 70.00 Groceries $ 200.00 ($1090.00 x 2) = Student Loan $ 200.00 Monthly Net Earnings $2,180.00 Entertainment/Clothes $ 350.00 Total Expenses $2,180.00