Question

Create a budget that will allow you to save at least $100 by the end of October.

Answer 1

According to the updated budget, the net income should be at least $2100.

A budget is an estimated strategy for a certain timeframe, mostly one year. Additionally, projected material amounts, expenditures, liabilities, holdings, responsibilities, and working capital may be included.

The following list explains why the figures shown above are accurate:

The factors for the costs in the previous budget are;

Net income =$1,850.00

Cost of rent =$600

Gas, vehicle payment, and insurance together = $475.

Cost of phone, online world, and utility companies = $230.

Cost of grocery stores= $300

Cost of amusement= $50

Cost of homeowners insurance = $20.

$75 has been set aside for recreational expenditures.

Net monthly savings = $100.

Modifications to the spending plan:

$50 is the allotted sum for a computer system.

Monthly net savings = $300

∴Savings increases= $300-$100=$200

Previous net income+ cost of computer system+ 200(extra savings than previous)

= $(1850+50+200)

=$2100

So,Net earnings = $2,100

Learn more about the budget plan:

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