Question

performance task - budgets
directions: complete jaynas monthly budget below using the information from the previous page.
jaynas income $1,200
job 200
additional money $1400
total monthly income
fixed expenses
rent 700
utilities 50
cell phone 50
groceries 50
transportation 0
clothing 0
car insurance 30
credit card $25
fixed expenses total $905
variable expenses
fast food/restaurants 150
entertainment 0
video games $60
gas/car 60
other 0
other 0
other 0
other 0
variable expenses total $270
monthly income 1400 - monthly expenses (fixed + flexible) 1175 = budget total 225.

1. does jayna have enough money to pay for all of her expenses? why or why not?
2. looking at jaynas flexible expenses, what are a few things she could cut back on that will allow her to save more money?

source: fdic money smart for young people and tay collaborative world of work curriculum (wowbook)
lifelong foundations of jag lep 5 hs - l4l foundations of jag (202)

Explanation:

Step1: Identify income and expenses

Monthly income is $1400$, total expenses (fixed + variable) are $905 + 270=1175$.

Step2: Compare income and expenses

Since $1400>1175$, Jayna has enough money.

Step3: Analyze flexible (variable) expenses

Variable expenses include fast - food/restaurants ($150$), video games ($60$), gas/car ($60$). She could cut back on these.

Answer:

1. Yes, Jayna has enough money to pay for all of her expenses because her total monthly income of $1400$ is greater than her total monthly expenses of $1175$ (fixed expenses of $905$ plus variable expenses of $270$).
2. Jayna could cut back on fast food/restaurants (currently $150$), video games (currently $60$), and gas/car (currently $60$) to save more money.