The All About You feature (available on the book’s companion website) emphasizes that in order to get your personal finances under control, you need to prepare a personal budget. Assume that you have compiled the following information regarding your expected cash flows for a typical month.
|
Rent payment |
$ 400 |
Miscellaneous costs |
$110 |
|
Interest income |
50 |
Savings |
50 |
|
Income tax withheld |
300 |
Eating out |
150 |
|
Electricity bill |
22 |
Telephone and Internet costs |
90 |
|
Groceries |
80 |
Student loan payments |
275 |
|
Wages earned |
2,000 |
Entertainment costs |
250 |
|
Insurance |
100 |
Transportation costs |
150 |
Instructions
Using the information above, prepare a personal budget. In preparing this budget, use the format found. Just skip any unused line items.