Change the date to November 2020. You will be prompted to copy October's budget. Do so, by clicking on "Start Planning November . Michael is now budgeting for November 2020. Here are a few things that have changed for him: Michael made his last car payment in October 2020. Correct this in the budget. Michael has decided to change his lifestyle and joins a gym. His gym membership is $45/month. He has adjusted his diet, which has reduced his grocery budget to $225. He signed up for the Healthy Living Subscription to monitor his exercise and calorie intake at a cost of $9 per month. Michael has had a fascination with flying since he was younger. He has decided to take flying lessons. The lessons are $171/month. Michael realized that he forgot to include his Auto Insurance payment, which is $300 every 6 months. He has recently learned that he can make his payment on a monthly basis instead of every six months. He is happy about this because it allows him to break the payments up into smaller amounts over time and include in his monthly budget. Add this payment to his budget. Michael has decided to reduce his Emergency Fund contribution to cover his monthly insurance cost. Michael has decided to pay off his credit card in November. Change the planned amount for this month to $75. Create a transaction of $75 for his credit card. Add transactions for his student loan debt as well. Use November 3rd for all transactions. . . Currently in Progress BABY STEP 1 $1,000 Emergency Fund 1 Questions 1. Did Michael have enough money to take those flying lessons before he added his insurance payment, and adjusted his Emergency Fund? 2. It appears Michael is over budget now. What might he do to correct this? 3. At the end of November, how much will Michael have saved for his Emergency Fund? You can find this by using the navigation menu on the left and choosing baby steps. Grab a screen capture of this, and save it as budget_2.png How much does he need to save? 4. How much does Michael Owe on his student loan? An emergency fund is for those unexpected events in life that you can't plan for, like the loss of a job, an unexpected pregnancy, or a faulty car transmission. It's not a matter of if these events will happen. It's simply a matter of when. YOUR PROGRESS Change the date to November 2020. You will be prompted to copy October's budget. Do so, by clicking on "Start Planning November . Michael is now budgeting for November 2020. Here are a few things that have changed for him: Michael made his last car payment in October 2020. Correct this in the budget. Michael has decided to change his lifestyle and joins a gym. His gym membership is $45/month. He has adjusted his diet, which has reduced his grocery budget to $225. He signed up for the Healthy Living Subscription to monitor his exercise and calorie intake at a cost of $9 per month. Michael has had a fascination with flying since he was younger. He has decided to take flying lessons. The lessons are $171/month. Michael realized that he forgot to include his Auto Insurance payment, which is $300 every 6 months. He has recently learned that he can make his payment on a monthly basis instead of every six months. He is happy about this because it allows him to break the payments up into smaller amounts over time and include in his monthly budget. Add this payment to his budget. Michael has decided to reduce his Emergency Fund contribution to cover his monthly insurance cost. Michael has decided to pay off his credit card in November. Change the planned amount for this month to $75. Create a transaction of $75 for his credit card. Add transactions for his student loan debt as well. Use November 3rd for all transactions. . . Currently in Progress BABY STEP 1 $1,000 Emergency Fund 1 Questions 1. Did Michael have enough money to take those flying lessons before he added his insurance payment, and adjusted his Emergency Fund? 2. It appears Michael is over budget now. What might he do to correct this? 3. At the end of November, how much will Michael have saved for his Emergency Fund? You can find this by using the navigation menu on the left and choosing baby steps. Grab a screen capture of this, and save it as budget_2.png How much does he need to save? 4. How much does Michael Owe on his student loan? An emergency fund is for those unexpected events in life that you can't plan for, like the loss of a job, an unexpected pregnancy, or a faulty car transmission. It's not a matter of if these events will happen. It's simply a matter of when. YOUR PROGRESS