In order to get your personal finances under control, you need to prepare a personal budget. Assume that you have compiled the following information regarding your expected cash flows for a typical month. Rent payment $550 $228 55 55 Interest income Income tax withheld 330 165 Miscellaneous costs Savings Eating out Telephone and Internet costs Student loan payments Entertainment costs Electricity bill 98 145 Groceries 110 420 2.750 Wages earned 275 165 Insurance 110 Transportation costs Using the information above, prepare a personal budget. Personal Budget Typical Month Income Wages earned $ Interest income Income subtotal Income tax withheld Spendable income $ Expenses: Rent Rent Utilities: Electricity Telephone and Internet Food: Groceries Eating out Insurance Transportation costs Insurance Transportation costs Student loan payments Entertainment costs Savings Miscellaneous costs Total investments and expenses A $ Surplus/Shortage e Textbook and Media 16C Cloud o search o i 1999