Section 1
1. Section 1
1.21. Connect
Section 1: Personal Budgets
Connect
Going Beyond
Once your budget is created, you should stick to this plan. However, budgets must be modified when circumstances change. Making necessary changes is often difficult to do and involves compromises. For example, you may have to limit the money spent on entertainment or travel.
The following question challenges your problem-solving abilities.
Turn to page 324 of MathWorks 11, and complete question 8 of “Extend Your Thinking.”
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Josif’s Draft Monthly Budget |
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Income |
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Expenses |
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Regular monthly net pay |
$2123.33 |
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Housing |
$1800.00 |
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Net overtime pay |
$0.00 |
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Food |
$650.00 |
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Gas |
$200.00 |
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Educational savings |
$300.00 |
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Miscellaneous |
$350.00 |
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Total |
$2123.33 |
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Total |
$3300.00 |
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Draft deficit |
$1176.67 |
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Project Connection
You are now prepared to begin working on Step 2 of the Section 1 Project: Create Your Own Personal Budget.
Lesson 2 Assignment
Your lesson assignment contains some problems for you to solve using the knowledge gained during the lesson. Now you will have the chance to apply the concepts and strategies learned to a new situation. Please show work to support your answers.
Open the Lesson 2 Assignment that you saved to your course folder and complete the questions.