University:
University of New Orleans
Course:
FIN-3301 | Small Business Finance
Academic year:

2024
Views:

272

Pages:

1
Author:

Prince Sampson

Creating a New Budget to Meet Your Saving and Spending Needs By Jack Flagg Income And Expenses Old Budget Budget New Budget One Year Total Total Income 1850.00 2190.00 26,280 Car payments/Ins 475.00 475.00 5,700 Utilities 230.00 230.00 2,760 Rent 600.00 600.00 7,200 Renters Insurance 20.00 20.00 240 Total fixed expenses 1325.00 1325.00 15,900 groceries 300.00 300.00 3600.00 entertainment 50.00 25.00 300 Discretionary spending 75.00 50.00 600 Computer savings 50.00 50.00 600 Total Variable Expenses 425.00 425.00 5100 Total Expenses 1750.00 1750.00 21,000 Net Savings 100.00 440.00 4800 1) Which budgetary category changed the most between your old budget and your new budget? Why? (5 points) The net income changed the most, increasing by 340.00. 2) How does your new budget help you to meet your short-term goal of buying a new laptop? (5 points) The new budget saves 50.00 a month towards the purchase of the laptop. 3) How does your new budget help you to meet your long-term goal of saving for college? (5 points) The new budget allowed me to save $440.00 toward college savings

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