Question

Alexa has finished her culinary training program and is now working full-time as a chef in a hotel resort restaurant. She has tripled her salary from when she was working part-time to pay her expenses through school. How should this increased income affect her budget? Make comparisons with her previous budget and her current budget. Monthly Budget Previous Budget Current Budget Income Wages $800 $2400 Expenses Rent Utilities Groceries Savings Bus Pass $300 $60 $200 $100 $30 $300 $60 $250 $150 $30 Net Income $110 $1610 a. Alexa is earning quite a bit more money and her expenses reflect the change in income. B. Alexa is earning quite a bit more money than she was previously. She has worked hard and deserves to spend a lot of money on herself. C. Alexa is earning quite a bit more money than she was previously. This would be a good time for her to re-evaluate her budget. Part of the extra money she is making could be put in her savings account. D. Her increased income should have no effect on her financial decisions. Please select the best answer from the choices provided A B C D.

Answer 1

From the table it is obvious that Alexa is earning quite a bit more money than she was previously.

What is a budget?

The term budget refers to an organized plan for income and expenditure. Budget usually helps a person to prioritize certain issues over others when making purchases.

We can see from the question that Alexa is earning quite a bit more money than she was previously. This would be a good time for her to re-evaluate her budget. Part of the extra money she is making could be put in her savings account.

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