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use the following scenario to answer the chart in the picture. Jesus often works 12-hour days to support his family of four. Including overtime, he
use the following scenario to answer the chart in the picture.
Budget Amount Comments Sources of Income Salary and wages Investment and interest income Other: Income subtotal: Fixed Expenses Mortgage or rent Car payments Car payments Auto insurance Medical insurance (dental and vision) Loans (including credit card repayment) Fixed expenses subtotal: Savings Emergency fund Savings Savings subtotal: Variable Expenses Utilities (water, gas, electricity) Telephone (cell and land) Transportation costs (gas, maintenance, tolls, bus, etc.) Groceries Variable expenses subtotal: Discretionary Expenses Entertainment (movies, electronics, video games, sporting events) Dining out Education and classes Clothing Discretionary expenses subtotal: Total expenses: (add all subtotals) Your balance: (subtract all expenses from income) Jesus often works 12-hour days to support his family of four. Including overtime, he makes about $800 a week. A third of his salary goes toward renting a two-bedroom apartment, and he and his wife spend another $300 a month on health insurance and medical bills. They own both of their cars outright and only pay $60 per month for auto insurance. The family relies on cell phones for communicating with one another and they share a family plan, which runs them $150 per month. They have a bit of credit card debt and pay the minimum payment of $60 per month. They also pay about $150 per month for their gas, water, and electricity bills. They rarely eat out and spend about $125 per week on groceries. As their kids get older, Jesus and Maria would like to move to a larger apartment, and they also want to save money for college. Jesus also thinks he will need a new work truck, which will cost anywhere from $200 to $400 a month depending on the kind of truck he buys.
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