9. The Robinson family owns a 3-bedroom condo. Both parents work full time. Mr. Robinson's yearly...

Transcribed Image Text:

9. The Robinson family owns a 3-bedroom condo. Both parents work full time. Mr. Robinson's yearly income is $43 000 and Mrs. Robinson's yearly income is $47 000. Below are the expenses that the family has on a regular basis: Robinson's Family Expenses Mortgage: $2600 per month . Day care: $495 bi-weekly Condo fees: $370 bi-weekly Transportation: $240 per week Utilities: $510 per month Food: $180 per week Property tax: $7300 per year a) Use the data provided to design a MONTHLY budget. Budget Item INCOME Total Income EXPENSES Total Expenses Balance Total Income - Total Expenses MONTHLY Amount ($) b) In which category might they be able to cut back on costs in order to increase their savings? 9. The Robinson family owns a 3-bedroom condo. Both parents work full time. Mr. Robinson's yearly income is $43 000 and Mrs. Robinson's yearly income is $47 000. Below are the expenses that the family has on a regular basis: Robinson's Family Expenses Mortgage: $2600 per month . Day care: $495 bi-weekly Condo fees: $370 bi-weekly Transportation: $240 per week Utilities: $510 per month Food: $180 per week Property tax: $7300 per year a) Use the data provided to design a MONTHLY budget. Budget Item INCOME Total Income EXPENSES Total Expenses Balance Total Income - Total Expenses MONTHLY Amount ($) b) In which category might they be able to cut back on costs in order to increase their savings?