Question

20. Expense Amount Mortgage (monthly) $985.64
Cell phone (monthly) $58.30
Groceries (twice a month) $154.00
Clothing (monthly with 25% jobrelated) $180.00
Water & electric (monthly) $128.40
Weekly dinner & movie $55.00
Property taxes (6 months) $684.80
Car insurance (quarterly) $330.00
Your realized income is $2,943.20/month. How much are your fixed expenses each month? How much could you save per month if you take 25% of your discretionary monies and put it in a savings account?

Answer 1

I'm getting confused because I know that fixed expenses are expenses that don't constantly change. So I don't know whether to include groceries and clothing... or add up everything EXPECT weekly dinner and clothing

Answer 2

so far I have 985.64 + 58.30+ 154x2+ 128.40+ 11.14 ( property tax per month)+ 82.50 ( car insurance per month).