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You have a net income of $ 4 0 0 0 0 / year . Your expenses include the following: Rent: $ 8 0 0

You have a net income of $40000/year. Your expenses include the following:
Rent: $800? month
Insurance: $225? semi-annually
Car Payment: $315? month
Car Expenses: $1000 year
RRSP: $50/month
Entertainment: $50? week
Cell Phone: $75/month
Food: $500? month
a) Create a budget. (5 marks)
b) Modify the budget to include a savings plan of $100? week. (2 marks)
c) You paid off your car and have decided to buy a house. Your mortgage payment is now $1050? month. Modify the budget to reflect this new financial plan. (2 marks)
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