Scenarios below and create the networth sheet, income sheet, and budget using the information given. Your job is to go over the information given and prepare a working budget/solution. Perhaps some cuts need to be made and money budgeted esle where. Please keep in mind its important to have an emergency fund and 6 months savings. If debt is an issue start with emergency fund and a solution to lower/elimante debt.

Scenario 1: Recent college graduate Tim recently graduated with a degree in marketing. He started a job that pays her $48,000 per year. His monthly net income is $2,800 (Gets paid on the 15th and 30th). Hes moving into his own one-bedroom apartment in the city. He doesnt own a car, but he has subway expenses. He also adopted a dog, so he now has to pay for dog food and vet bills. Tim does not have and emergency fund or 6 months expenses saved. Tim has budgeted for the following monthly expenses: Expense type, Expense Actual Cost Rent $960, Utilities $80 Food $400, Cell phone $100 Clothing $150, Savings $100 College loan $140, $35,600 is balance Renters insurance $80 Eating out/entertainment $200, Pet care $60 Subway $220, Cable/Internet $160

Determine a working budget and show Tim how he can build up emergency fund, 6months expenses and way to pay down debt so he can start saving for a home.