Read the following prompt and type your response in the space provided.

Question

Todd has a net monthly income of $2,000.

Create a reasonable monthly budget for Todd. Be sure to include the following expenses:

Todd and two friends are sharing a $900/month apartment. Todd's share of the rent is $300. They are also splitting utilities 3 ways. Utility costs average $150/month ($50 per person).

Todd is a student. He has a tuition waiver, but he must pay about $250 per month for books and supplies.

Answer 1

Todd's Monthly Budget:

Income:
Net monthly income: $2,000

Expenses:
Rent: $300
Utilities: $50
Books and Supplies: $250

Total Expenses: $600

Remaining Income:
Net monthly income - Total Expenses
$2,000 - $600 = $1,400

Remaining income: $1,400

Based on Todd's net monthly income of $2,000, his expenses include $300 for rent, $50 for utilities, and $250 for books and supplies. After subtracting these expenses from his monthly income, Todd has $1,400 left for other necessary expenses and savings. It is important for Todd to budget this remaining income based on his specific needs, such as groceries, transportation, healthcare, and any additional savings goals.