Sophia has decided to start making a budget. She lists all of the ways she spends money each month, and then lists her income. Poor Sophia! She spends much more than she makes. How can she save money? 

Sophia's monthly expenses Ways Sophia can save money Rent $1,200.00 Electric bill (including heat and air conditioning) $86.00 Phone bill $40.00 Cable TV bill $90.00 Car insurance bill ($960/year) $80.00 Groceries $400.00 Gas for car $240.00 Clothes and shoes $200.00 Hairdresser (once a month) $75.00 Movies (once a week) $80.00 Coffee before work ($5 a day) $100.00 Lunches out at work ($20 a day) $400.00 Interest on credit card $12.00 Total expenses $3,003.00 Sophia's monthly income Weekly paycheck $500 $2,000.00 Total Income $2,000.00 Consider the 50/30/20 rule as you review Sophia's budget details worksheet. Share with the class what Sophia should consider to improve her financial situation and save more money. Be creative with this as there are many things she can do differently to decrease her expenses and save more money