Financial Literacy

“Create a personal budget for a month based on the following information: You have a monthly income of $2,000. Your fixed expenses include rent of $800, utilities of $150, and a car payment of $300. You also have variable expenses such as groceries estimated at $400 and entertainment at $200. Show your budget breakdown and explain how you would track these expenses. Develop a personal budget for a month using the following details: Your total monthly income is $1,500. You have fixed costs including a phone bill of $100, insurance of $250, and a student loan payment of $200. Additionally, you plan to spend $300 on transportation and $150 on dining out. Present your budget plan and describe the method you would use to monitor your spending.”