Calculate the Months Living Expenses Covered Ratio based on the information below (show all work for credit)

Assets				Liabilities
	Cash	$ 500		I.	Current Bills (unpaid balance)	$ 350
	Checking	$ 1,200			Visa	$ 8,000
	Savings/CDs	$ -			Master Card
	Money Market Funds	$ 500			Other Credit Cards
	Other Monetary Assets	$ 90		J.	Credit Card Debt	$ 8,000
A.	Monetary Assets	$ 2,290			First Mortgage	$ 105,000
	Mutual Funds	$ 5,600			2nd Home Mortgage	$ 100,000
	Stocks	$ -			Home Equity Loan	$ 9,000
	Bonds				Other Housing Debt
	Life Insurance (cash-value)			K.	Housing	$ 214,000
	Cash Value of Annuities				Automobile 1	$ 3,000
	Investment Real Estate (REITs, partnerships)				Automobile 2
	Other investments				Other Automobile Loans
B.	Investments	$ 5,600		L.	Automobile Loans	$ 3,000
	401(k) and 403(b)	$ 2,500			College Loans	$ 4,000
	Company Pension	$ -			Loans on Life Insurance Policies
	Keogh				Bank Loans
	IRA	$ 8,000			Installment Loans	$ 1,000
	Other Retirement Plans				Other
C.	Retirement Plans	$ 10,500		M.	Other Debts	$ 5,000
	Primary Residence	$ 170,000
	2nd Home	$ -		N.	Total Debt (add lines I through M)	$ 230,350
	Time-Shares/Condominiums
	Other Housing			Net Worth
D.	Housing (market value)	$ 170,000		H.	Total Assets	$ 207,390
	Automobile 1	$ 8,000		N.	Less: Total Debt	$ 230,350
	Automobile 2	$ -		O.	Equals: Net Worth	$ (22,960)
	Other Automobiles
E.	Automobiles	$ 8,000
	Collectibles
	Boats
	Furniture	$ 11,000
	Other Personal Property
F.	Personal Property	$ 11,000
	Money Owed You
	Market Value of Your Business
	Other
G.	Other Assets	$ -
H.	Total Assets (add lines A through G)	$ 207,390
	Income
	Wages and salaries
	Wage Earner 1	$ 57,500
	Wage Earner 2	$ -
	Total Wages and salaries	$ 57,500
	+ Interest and Dividends	$ 720
	+ Royalties, Commissions and Rents
	+ Other Income

A. Total Income

$ 58,220

	Taxes
	Federal Income and Social Security	$ 11,830
	+ State Income	$ 1,880

B. Total Income Taxes

$ 13,710

C. After-Tax Income Available for Living Expenditures	$ 44,510
or Take-Home Pay (line A minus line B)

	Living Expenses
	Housing
	Rent
	+ Mortgage Payments	$ 19,656
	+ Utilities Maintenance, Taxes, Furniture, Other	$ 10,820

D. Total Housing Expenditures

$ 30,476

	Food
	Food and Supplies	$ 5,800
	+ Restaurant Expenses	$ 1,400

E. Total Food Expenditures

$ 7,200

	Clothing and Personal Care

F. Total Clothing and Personal Care Expenditures

$ 2,590

	Transportation
	Automobile Purchase
	+ Payments	$ 2,588
	+ Gas, Tolls, Parking, Other	$ 1,550

G. Total Transportation Expenditures

$ 4,138

	Recreation
	+ Vacations	$ 2,000
	+ Other Recreation Expenses	$ 1,700

H. Total Recreation Expenditures

$ 3,700

	Medical Expenditures

I. Total Medical Expenditures

$ 410

	Insurance Expenditures
	Health
	+ Life	$ 420
	+ Automobile	$ 1,260
	+ Disability	$ 260

J. Total Insurance Expenditures

$ 1,940

	Other Expenditures
	Educational Expenditures (college loan payment)	$ 1,600
	+ Child Care	$ 180
	+ Other Expenses

K. Total Other Expenditures

$ 1,780

L. Total Living Expenditures (add lines D-K)	$ 52,234
M. Income Available for Savings and Investment	$ (7,724)