Information on the various budget activities appears below. The budget month is January of the current year and on that date you had a budget of $32.50.

1. You receive a check from a family member as a late gift for the holidays, which is $125.

2. You washed your brother's car for which he gave you $20.

3. You went to eat with some friends and spent $23.50.

4. You had to purchase some educational materials, which amounted to $18.75.

5. On January 15 you received your biweekly salary. You worked 20.5 hours and were paid $8.15/hour. They give you a discount of 8.5% for different payroll deductions.

6. Your partner's birthday is January 18 and he wants a good dinner. You estimate the expense to be $75.00.

7. You have to go to the stylist during the second week of January; the cost is $15.

8. Every week you spend $25 on gas for your car.

9. You decide that in addition to taking your partner out to eat, you want to buy tickets to a concert. The individual cost of each ticket is $75.00.

10.You have daily expenses of $7.50 for meals.

Questions to answer:

1. What is the balance at the end of January?

2. What strategies or actions would you take to improve your finances? Mention at least three and explain them.

Answer rating: 100% (QA)

To determine the balance at the end of January we need to calculate the total income and total expenses for the month and then subtract the expenses f... View the full answer