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T i set aside 4 million VND for university preparation before enrolling. T i is now living with his parents. T i asked Ch nh
Ti set aside million VND for university preparation before enrolling. Ti is now living with his parents. Ti asked Chnh a finance and bankingmajor friend, what he could do to better manage his money. Chnhs solution is to create a budget.
Ti is asked to describe his goals and current spending habits. Ti responded, "The cost of attending university is higher than I anticipated, and my parents expect me to be able to cover my own living expenses while attending university. Im guessing around million VND per year! I've considered working parttime, but Im not sure I can balance studying and working parttime. Budgeting appears to be a good idea, but Im not sure where to begin
Chnh created a basic plan for Ti to track each of his expenses over a month to assist him. Ti is asked to fill out the budget form below.
tableItemsWant or Need?,tableExpense for eachitemItem Total expensesCoffeeCinemaLunch and snacks,,ClothesBus Ticket,,Phone & internet GShoes and personal care,,Total expenses,,
Questions :
a Calculate the percentage of each item in relation to total monthly spending and provide a brief comment please enter the results directly in the table above and comment belowpt
b Determine whether each expense is a Want or a Need fill in the table above and explain further below
c Ti is torn between working parttime and changing his spending habits in order to achieve his financial goals. Please weigh the advantages and disadvantages of these two options for him and give him some advice.
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