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16 Mar 2023
Using the following budget table (make copies if needed) determine if the financial goals of the characters in each scenario can be met.
Income
Salary #1
Salary # 2
Total Income
Expenses
Rent
Transportation
Costs
Food
Entertainment
Miscellaneous
Total Expenses
Total Income - Total Expenses
(Gross Profit/Loss)
Cindy and Steven are recently married and are both chefs. They have recently graduated from culinary school and are making a starting salary of $ 15.00 as a sous-chef. They both work 10-hour days, six days a week. Because they are chefs at a mid-level restaurant they live in the downtown core where it is located. The rent on their one bedroom apartment is $ 1125 month. This includes all utilities. However, they pay an additional $ 75 for cable and internet. Their joint cell phone bill is $ 60.00 and they opt not to have a landline to save money. Because they live downtown they have also chosen not to buy a car and spend about $200 a month on public transportation. They eat most meals for free at the restaurant where they work so their grocer bill is only about $200 a month. Do Cindy and Steven earn enough money to cover their expenses?
Marcos and Francesca have been married for five years. Marcos owns a clothing store and makes about $ 4200 a month. Francesca is an elementary teacher and brings home $ 2500 a month. They recently bought a townhouse and their mortgage payment is $ 1200/ month. Internet, cable and telephone totals $ 175.00 a month and utilities they manage to keep down to $ 175.00 per month also. They lease two cars for $ 450 a month each and spend about $ 230 combined in gas monthly. They have one son, Jason, who goes to private Montessori school, which costs them $ 500.00 per month. Groceries cost them $ 400.00 per month and entertainment around #350. Marcos and Francesca want to save $ 500.00$ per month towards retirement. Are they able to?
Using the following budget table (make copies if needed) determine if the financial goals of the characters in each scenario can be met.
Income
Salary #1
Salary # 2
Total Income
Expenses
Rent
Transportation
Costs
Food
Entertainment
Miscellaneous
Total Expenses
Total Income - Total Expenses
(Gross Profit/Loss)
Cindy and Steven are recently married and are both chefs. They have recently graduated from culinary school and are making a starting salary of $ 15.00 as a sous-chef. They both work 10-hour days, six days a week. Because they are chefs at a mid-level restaurant they live in the downtown core where it is located. The rent on their one bedroom apartment is $ 1125 month. This includes all utilities. However, they pay an additional $ 75 for cable and internet. Their joint cell phone bill is $ 60.00 and they opt not to have a landline to save money. Because they live downtown they have also chosen not to buy a car and spend about $200 a month on public transportation. They eat most meals for free at the restaurant where they work so their grocer bill is only about $200 a month. Do Cindy and Steven earn enough money to cover their expenses? | Marcos and Francesca have been married for five years. Marcos owns a clothing store and makes about $ 4200 a month. Francesca is an elementary teacher and brings home $ 2500 a month. They recently bought a townhouse and their mortgage payment is $ 1200/ month. Internet, cable and telephone totals $ 175.00 a month and utilities they manage to keep down to $ 175.00 per month also. They lease two cars for $ 450 a month each and spend about $ 230 combined in gas monthly. They have one son, Jason, who goes to private Montessori school, which costs them $ 500.00 per month. Groceries cost them $ 400.00 per month and entertainment around #350. Marcos and Francesca want to save $ 500.00$ per month towards retirement. Are they able to? |
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