\begin{tabular}{|l|r|}
\hline Monthly expenses & Amount budgeted \\
\hline Rent & [tex]$\$[/tex] 600[tex]$ \\
\hline Utilities, phone, Internet & $[/tex]\[tex]$ 230$[/tex] \\
\hline Groceries & [tex]$\$[/tex] 350[tex]$ \\
\hline Entertainment & $[/tex]\[tex]$ 100$[/tex] \\
\hline Renters insurance & [tex]$\$[/tex] 20[tex]$ \\
\hline Total expenditures & $[/tex]\[tex]$ 1,300$[/tex] \\
\hline
\end{tabular}

Remember, your net income is [tex]$\$[/tex] 1,850[tex]$ each month.

1. According to your current budget, how much money do you have left for savings and discretionary spending each month?
\[ \square \]

2. If you wanted to include a savings category of $[/tex]\[tex]$ 100$[/tex] per month, how much would you have left for discretionary spending?
[tex]\[ \square \][/tex]



Answer :

To determine how much money you have left for savings and discretionary spending each month, follow these steps:

1. Calculate the total expenditures:
According to the given budget, your total expenditures are:
[tex]\[ \$ 1,300 \][/tex]

2. Find your net income:
Your net income is:
[tex]\[ \$ 1,850 \][/tex]

3. Determine the money left for savings and discretionary spending:
Subtract your total expenditures from your net income to find the money left for savings and discretionary spending:
[tex]\[ \$ 1,850 - \$ 1,300 = \$ 550 \][/tex]
So, you have [tex]\(\$ 550\)[/tex] left each month for savings and discretionary spending.

4. Include a savings category of \[tex]$ 100 per month: To find out how much you have left for discretionary spending after including a savings category, subtract the savings amount from the money left for savings and discretionary spending: \[ \$[/tex] 550 - \[tex]$ 100 = \$[/tex] 450
\]
Therefore, you would have [tex]\(\$ 450\)[/tex] left for discretionary spending each month.

In summary:

- Money left for savings and discretionary spending each month: [tex]\(\$ 550\)[/tex]
- Money left for discretionary spending after including a \[tex]$ 100 savings category: \(\$[/tex] 450\)