Romaniezij4wamm Romaniezij4wamm

25-10-2016
Business

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Mike has a net spendable income of $1,400. He decides to set up a budget before looking for an apartment or a car. He sets up his budget and finds that he has lots of money left over. He puts the extra money into entertainment.

Housing$420
Food$168
Transportation$210
Insurances$42
Debts$70
Entertainment$224
Clothing$70
Savings$70
Medical$56
Miscellaneous$70
Why might this budget be a problem?

Respuesta :

Kalahira Kalahira

09-08-2017

First let's add all of his expenses together:
$420 + $168 + $210 + $42 + $70 + $224 + $70 + $70 + $56 + $70 = $1,400 Immediately we are able to see that all of his expenses use up the entire $1,400 in his budget. With $224 going towards entertainment there is no way Mike can expect to save for an apartment or car as he is choosing to spend any potential investable income on entertainment.

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