********Please HELP. I Need to compare what I have. This took me forever and I still have questions if I did it right.*************
You have just been promoted at your job, and now you have a net income of $2,190. You would like to use this income to meet new financial goals.
1. Create a budget that will allow you to save at least $300 per month.
Remember, your old budget reflected a net income of $1850.00 and included these expenses:
• $600 for your rent
• $475 for your car payment, car insurance, and gas
• $230 for your utilities, phone, and Internet
• $300 for your groceries
• $50 for your entertainment
• $20 for your renters insurance
• $75 for discretionary spending
• A final net total of $100 saved per month
Your new budget needs to include these changes:
• A new line to budget $50 per month toward a new computer
• Other expenses may be modified as you choose.
• A final net total of at least $300 saved per month
The attached screenshot is what needs to be filled out.
2. Which budgetary category changed the most between your old budget and your new budget? Why?
3. How does your new budget help you to meet your short-term goal of buying a new laptop?
4. How does your new budget help you to meet your long-term goal of saving for college?
