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scenario: jordan is a high - school student who works part - time at a …

Question

scenario: jordan is a high - school student who works part - time at a grocery store. they make $10 per hour and work 15 hours a week. jordan wants to manage their monthly money better, so theyve decided to create a budget. jordans monthly income = $10/hour × 15 hours/week × 4 weeks = $600. jordan needs to plan for the following categories: category, suggested % of income, amount you will budget. transportation 15%, cell phone 10%, food & snacks 20%, entertainment 10%, savings 20%, personal items 10%, misc. expenses 15%.

Explanation:

Step1: Calculate budget amount for each category

Multiply monthly income by percentage.

Step2: For Misc. Expenses

$600\times 0.15 = 90$

Step3: For Personal Items

$600\times 0.10 = 60$

Step4: For Savings

$600\times 0.20 = 120$

Step5: For Entertainment

$600\times 0.10 = 60$

Step6: For Food & Snacks

$600\times 0.20 = 120$

Step7: For Cell Phone

$600\times 0.10 = 60$

Step8: For Transportation

$600\times 0.15 = 90$

Answer:

CategorySuggested % of IncomeAmount You Will Budget
Personal Items10%60
Savings20%120
Entertainment10%60
Food & Snacks20%120
Cell Phone10%60
Transportation15%90