12. Imagine you have a budget of $1,000 per month. Make a list of at least three categories you would use that money toward, such as housing, utilities, transportation, food, clothing, entertainment, savings, and so on. Then put a dollar amount next to each item to show how much money you would budget for this item each month. Make sure the total adds up to $1,000. TIP: The cost of each item can be a rough estimate. You don't need to research specific costs of each expense.

Question

Dustin Barnes

Business

12 August, 10:37

12. Imagine you have a budget of $1,000 per month. Make a list of at least three categories you would use that money toward, such as housing, utilities, transportation, food, clothing, entertainment, savings, and so on. Then put a dollar amount next to each item to show how much money you would budget for this item each month. Make sure the total adds up to $1,000. TIP: The cost of each item can be a rough estimate. You don't need to research specific costs of each expense.

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Answers (1)

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Boston Simmons · Answer 1

Housing=$250

Food=$333.34

clothing=$208.33

Savings=$208.33

Explanation:

Total Budget = $1,000

Housing=1/4 of the total budget = (1/4) * 1000=$250

Food=1/3 of the total budget=1/3*1000=333.34

clothing=5/24 of the total budget=5/24*1000=208.33

Savings=5/24 of the total budget=5/24*1000=208.33

Total budget = (Housing+Food+Clothing+Savings)

Total budget = (250+333.34+208.33+208.33) = $1,000