Making a Personal Budget · Example 2
Carol is working in a dental lab, creating dentures and bridges. Monthly her take home pay is $2,816 (based on $22 per hour minus payroll taxes). She also receives $320 per month in child support for her one daughter. Her monthly expenses are rent at $700, car payments at $229, student loan payments at $250, car insurance at $119, health insurance at $225, utilities at $80, clothing at $75, entertainment at $200, food at $275, and gasoline at $275. Create Carol’s budget in a table, compare the total income to total expenses, and determine how much excess income per month she has or how much she falls short by each month.
OpenStax, Contemporary Mathematics · §6.5 Making a Personal Budget · Example 2
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