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Here's how the month actually went: Sam made $ 4 5 0 extra dollars in overtime pay this month. Rent went up by $ 2
Here's how the month actually went:
Sam made $ extra dollars in overtime pay this month. Rent went up by $ starting this month. He went out for dinner for a friend's birthday, where he spent $ He needed an oil change, so he spent an extra $ on gas and oil, as well as $ for parking. He also had to spend $ for car repairs. He then bought new running shoes for $ personal items for $$ for a birthday present for his mother. Lastly, he had to pay $ for a speeding tickets!
Prepare a monthly budget for Sam based on actual results. Be sure to show gross income, disposable income, and discretionary income.
How much does he have leftover at the end of the month to put into savings?
Compare the two "income statements" and answer the following questions.
a What is the difference between his planned and actual spending?
b In which areas did he overspend?
c In what areas did he underspend?
d Suggest ways that Sam can decrease his spending in appropriate areas.
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