In order to get your personal nances under control, you need to prepare a personal budget. Assume that you have compiled the following information regarding your expected cash ows for a typical month.

Rent payment $ 400 Miscellaneous costs $110

Interest income 50 Savings 50

Income tax withheld 300 Eating out 150

Electricity bill 22 Telephone and Internet costs 90

Groceries 80 Student loan payments 275

Wages earned 2,000 Entertainment costs 250

Insurance 100 Transportation costs 150

Instructions:

Using the information above, prepare a personal budget. In preparing this budget, use the format found at http://nancialplan.about.com/cs/budgeting/l/blbudget.htm.