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23 August, 08:48

12. Imagine you have a budget of $1,000 per month. Make a list of at least three categories you would use that money toward, such as housing, utilities, transportation, food, clothing, entertainment, savings, and so on. Then put a dollar amount next to each item to show how much money you would budget for this item each month. Make sure the total adds up to $1,000. TIP: The cost of each item can be a rough estimate. You don't need to research specific costs of each expense.

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  1. 23 August, 09:56
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    Housing=$250

    Food=$333.34

    clothing=$208.33

    Savings=$208.33

    Explanation:

    Total Budget = $1,000

    Housing=1/4 of the total budget = (1/4) * 1000=$250

    Food=1/3 of the total budget=1/3*1000=333.34

    clothing=5/24 of the total budget=5/24*1000=208.33

    Savings=5/24 of the total budget=5/24*1000=208.33

    Total budget = (Housing+Food+Clothing+Savings)

    Total budget = (250+333.34+208.33+208.33) = $1,000
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