Question

You’ve tracked your income and expenses for a month, and you have a good idea of where your money is going. You create a budget and need to determine your savings goal.

Every month, your net pay is $2,025, your fixed expenses are $50, and your variable expenses are about $250 for food, $345 for gas, and $250 for entertainment.

What’s the amount of money you could save after all of your expenses are paid?
Question 6 options:

$2,025


$1,180


$1,975


$1,130

Answer 1

Total expenses = $50 + $250 + $345 + $250 = $895
Savings = $2,025 − $895 = $1,130

Answer: $1,130