Question

A 2-column table has 6 rows. The first column is labeled monthly expenses with entries rent, utilities phone and internet, groceries, entertainment, renters insurance, total expenditures. The second column is labeled Amount budgeted with entries 600, 230, 350, 100, 20, and 1,300 dollars.
Remember, your net income is $1,850 each month.

According to your current budget, how much money do you have left for savings and discretionary spending each month?



If you wanted to include a savings category of $100 per month, how much would you have left for discretionary spending?

Answer 1

Your total budgeted expenditures are $1,300 (600 + 230 + 350 + 100 + 20).
With monthly net income of $1,850:

- Money left for savings and discretionary spending = 1,850 − 1,300 = $550/month.
- If you set aside $100/month for savings, discretionary spending left = 550 − 100 = $450/month.