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Although every familys budget is different, the chart below

Resolved Question:

Although every family's budget is different, the chart below offers a guideline you can follow to help develop your personal budget.

Category %
Housing 28.3

Transportation 23.9
Food 10.8
Personal insurance and pensions 9.1
Personal taxes 5.7
Entertainment 4.5
Apparel products and services 4.3
Health care 3.9
Miscellaneous expenses 2.3
Education 2.1
Personal care products and services 1.0
Alcoholic beverages .7
Cash Contributions .6
Reading .5
Savings 2.3

Total
100.0


1. If you have an income of $2000 each month, according to the guideline percentages given, how much money will be spent on housing?
Hint: You will need to convert the percent allowed for housing costs into a decimal. You do this by moving the decimal point two places to the left.

2. If you have an income of $1500 each month, according to the guideline percentages given, how much money will be spent on transportation?

3. If you have an income of $875 each month, according to the guideline percentages given, how much money will be spent on food?

4.If you have an income of $1220 each month, according to the guideline percentages given, how much money will be spent on personal insurance and pensions?

5. If you have an income of $3000 each month, according to the guideline percentages given, how much money will be spent on personal taxes?

6.If you spend $58 on entertainment every month, what would your monthly income be according to the guideline percentages given?

7. If you spend $84 on apparel products and services every month, what would your monthly income be according to the guideline percentages given

8.If you spend $35 on health care every month, what would your monthly income be according to the guideline percentages given?

9.If you put away $50 in savings every month, what would your monthly income be according to the guideline percentages given?
Submitted: 5 years ago.
Category: Homework
Expert:  Tom replied 5 years ago.
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