Consider this example: Simone has a monthly net income of $4,456 dollars. Simone follows the 50/20/30 Budgeting Rule, so she will spend half (50%) of her net monthly income on essentials: $4,456/2 = $2,228 Since there are four essential items (housing, food, transportation, utilities), Simone could just divide her essentials budget by 4, and spend the same amount on each thing, which would look like this: In the image Do you think this is a good way for Simone to divide up her essentials budget? Why or why not? Explain. How do you plan to divide the essentials budger for dnetal?
Consider this example: Simone has a monthly net income of $4,456 dollars. Simone follows the 50/20/30 Budgeting Rule, so she will spend half (50%) of her net monthly income on essentials: $4,456/2 = $2,228 Since there are four essential items (housing, food, transportation, utilities), Simone could just divide her essentials budget by 4, and spend the same amount on each thing, which would look like this: In the image Do you think this is a good way for Simone to divide up her essentials budget? Why or why not? Explain. How do you plan to divide the essentials budger for dnetal?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Consider this example:
Simone has a monthly net income of $4,456 dollars. Simone follows the 50/20/30 Budgeting Rule, so she will spend half (50%) of her net monthly income on essentials:
$4,456/2 = $2,228
Since there are four essential items (housing, food, transportation, utilities), Simone could just divide her essentials budget by 4, and spend the same amount on each thing, which would look like this: In the image
- Do you think this is a good way for Simone to divide up her essentials budget?
- Why or why not? Explain.
- How do you plan to divide the essentials budger for dnetal?
Transcribed Image Text:Housing
$557
Food
$557
Transportation
$557
Utilities
$557
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