Your clients annual cash flows follow: wages ($75,000), bonus ($5,000), fixed-rate mortgage payments ($26,000), utilities ($5,500), fixed-rate school loan payments ($1,500), fixed-rate car loan payments (4,200), childcare fees ($1,825), laundry bills ($950), FICA, federal and state taxes ($22,400), vacations ($8,200) and contributions ($2,400)

Given the following assumptions, what is the projected surplus or deficit (rounded to nearest dollar) in the next period?

Projected raise of 5%

Projected bonus same

Neither the home, school or auto loans are paid off in the coming year

Cost-of-living index of 3%

You project that you can save your client $5,000 in taxes

Client says they can cut vacation spending in half but want to keep contributions the same.