Budgeting

Let's talk about budgeting!!!!

Multiple Choice

Is it important to budget?

• True

• False

Personal Budget

​Peter

Peter, 19 lives in a 2 bedroom apartment, which he shares with his roommate. They split the cost of rent ($800 per month) and utilities.

Multiple Choice

How much does Peter pay for rent?

• $400.00

• $800.00

• $200.00

• $500.00

Income

​How much does Peter earn?

Peter works full-time (40 hours a week) at Wawa and makes $7.50, which is about $300.00 a week ($1,200.00 per month/$14,400 a year before taxes). Based on the expectation that 33% of his salary will be deducted for taxes, Peter will have $804.00 to spend each month.

Fill in the Blank

If Peter spends $400 on rent each month and wants to save $100, how much does he have left to budget for his utility bills and other items?