You are living on your own, sharing rent with a roommate, trying to save up for college, and working for minimum wage ($7.25) at a fast food restaurant. You work 40 hours per week and take a bus to and from work five days a week. Along with saving for tuition, you are also trying to save enough to have 4 months' rent in your account, a new car so you don't have to take the bus, and a vacation to Cancn with some of your friends.

Monthly Budget

Item

Cost

Monthly Total

Rent

$260

$260

Utilities (cable and internet, water and electricity)

Cable and Internet $30

water $20, electricity $40

$90

Groceries

$50 per week

$200

Entertainment

$20 per week

$80

Public Transportation

$1.50 per bus ride

$22.50

Clothing

$50

$50

Cell Phone

$45

$45

How long would it take you to save 4 months' rent?

How much disposable income do you have each month?