Answer: Income and Expenses Old Budget New Budget
Income
Total income (net) 1850.00 2190.00
Fixed expenses Car payment/Ins 475.00 475.00
Utilities, phone, Internet 230.00 230.00
Rent 600.00 600.00
Renters Insurance 20.00 20.00
Total fixed expenses 1325.00 1325.00
Variable expenses Groceries 300.00 300.00
Entertainment 50.00 25.00
Discretionary spending 75.00 50.00
Computer Savings 50.00
Total variable expenses 425.00 425.00
Totals Total expenses 1750.00 1750.00
Net savings 100.00 440.00
2. 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.
3. 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.
4. 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
Explanation: I know you have already finished your assignment, but I wanted these points hehe. Also, credit goes to annettenichols13 ty luv. ^-^
