• Based on what you've learned in this course and your own life about economics and budgeting, what advice do you have for Charles and Ebony about their income, expenses, and other financial decisions?
  

webtexts.com My Grades - ECO110056VA016-1216-001 ECO110 - Page 3.9 - Assignment 1: Offer Advice.. Grammarly Course Hero Campus Login TOOLS CONTENTS TAKING CHARGE OF YOUR ECONOMIC FUTURE your friends' information again. Last Year's Actual Budget and This Year's Planned Budget Last Year's Actual This Year's Planned Budget (Budget 2) Difference Spending (Budget 1) Income Amount Percent Amount Percent Amount Total Wages $25,000 100% $25,000 100% SO After Taxes Last Year's Actual This Year's Planned Budget (Budget 2) Difference Spending (Budget 1) Expenditures Amount Percent Amount Percent Amount Housing $8,800 34% $9,700 38% $900 Food $4,200 17% $4,600 18% 1$400 Health Care $1,500 6% $1,500 6% SO Transportation $2, 100 9% $2,100 9% SO Utilities $1,500 6% $1,500 6% SO Education $2,100 9% $2,100 9% SO Cell Phone $1,500 6% $1,500 6% SO Personal $1,000 4% $850 3% I$150 Spending Entertainment $800 3% $400 2% 1$400 Tamina from Soomo Learning Savings $1,500 6% $750 3% 1$750 2 Attempts Only Unlike the other pages, which Total $25,000 100% $25,000 100% $25,000 have unlimited attempts, Investigation pages... REVIEW YOUR DRAFT REPORT( l > = . webtexts.com C; o l'I'l Ell E00110 - Page 3.9 - Assignment 1: Offer Ad TAKING CHARGE OF VOUR ECONOMIC FUTURE ASSIGNMENT TEMPLATE Describe Budget changes The change from this year and the previous years shows the increase, decrease and the expenses that stayed the same. The increased expenses for this year are housing and food, which caused last year to have a decrease in expense, The increase for the previous year is personal spending, entertainment, and savings, which cause this year to have a decrease in expenses. The expense that stayed the same is health care, transportation, utilities, education, and cell phone. Describe an Economic Trend One economic trend that is inuencing Ebony and Charles budget is housing. This inuence cause decrease on their expenditures since they didn't have to paying childcare. Although, moving closer to family cause them to pay more money for rent. Additionally, the climate also caused a increase to their Apply Economic Concepts Ebony/s tradeoff decision for being Marcel's primary caregiver and school will help with expenses. This is due to the high demand in the medical eld by Ebony becoming a medical ofce assistant. The supply and demand are relevant to food in my friends' budget since food keeps increasing, This has caused them to cut down on food they enjoy, which didn't help since they have to nd more ways to reduce food costs. . Tamina from Soomo Learning Compound growth is relevant since they don't have any debt and their saving 2 Anew\" Only Unlike the other pages. which interest is low. Charles and Ebony can take out a small loan, which will help have unlimited attempts, Investigation pages... their income increase. Edit Responses