Organizing one's financial life starts with making a budget. Use the link https://consumer.gov/sites/default/files/pdf-1020-make-budget-worksheet_form.pdf to make a budget for Vanessa given the following information. You can also use the same link to make a budget for yourself. Vanessa's monthly paycheck earnings after taxes is $1,733. She also receives $400 per month in alimony from her ex-husband. She adds that to her monthly paycheck earnings to get a total monthly income of $2,133. Vanessa wants to see how much she might save if she saves 10 percent of her monthly income, so she calculates $2,133 times 0.10 to get $213.30. (If she saves this amount regularly, at the end of the year she can save approximately $2,559). Instead, she decides to save $300 per month, or $3,600 per year. Next, Vanessa adds up her fixed expenses. Rent is $800, her car payment is $250, cable TV costs $40, Internet access costs $35, and her car insurance averages $30 per month, for a total of $1,155. She decides to set her variable expenseswhich include utilities, phone, groceries, entertainment, and car maintenanceat $600 per month. 

a) What is the difference between Vanessa's monthly total expenses and total income?

Answer rating: 100% (QA)

Calculating Vanessas Budget Difference Based on the informati... View the full answer