Using the example from class, complete a budget. Be sure your income equals your expenses.
George
works as a customer service representative and earns $52,000 per year
after taxes. He has two savings accounts; one at a credit union and the
other at a local bank. These accounts provide him with interest of
$135 and $105 interest respectively. George just recently purchased a
new car and owes $400 per month for his car payment. The car insurance
company charges $185 per month and he estimates his upkeep and
maintenance will cost him $50 a month. George rents a one bedroom
apartment in a choice location for $650 per month. His utility bills
cost him $175 per month. In addition, George pays $65 per month to park
his car in a secured lot. George pays $125 per month for the latest
iPhone and $125 for the Comcast Triple Play. His medical and dental
insurance plans cost him $75 each per month. He shops frequently and
spends $150 per month on clothes and $200 per month on groceries.
Georges uses $125 of gasoline each month and uses $80 for dining out.
He estimates his additional monthly expenses total $50.
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