In order to get your personal ?nances under control, you need to prepare a personal budget. Assume that you have compiled the following information regarding your expected cash ?ows for a typical month.
Rent payment $400 Miscellaneous costs $110
Interest income 50 Savings 50
Income tax withheld 300 Eating out 150
Electricity bill 22 Telephone and Internet costs 90
Groceries 80 Student loan payments 275
Wages earned 2,000 Entertainment costs 250
Insurance 100 Transportation costs 150
Instructions:
Using the information above, prepare a personal budget. In preparing this budget