Nan It's Your Paycheck! | Lesson 4: Your Budget Plan Handout 4.6: Maria's Story-Assessment (page 2 of 2) Using the information on the previous page, help Maria make a budget so that her expenditures do not exceed her monthly income of $410.45 and she can begin to save some money. Be sure to allocate at least $50 per month for gasoline because Maria has to use her car to get to work. Categorize her expenses appropriately. Use the form below. If your first budget attempt goes over her income, use the second column. 1st Budget attempt 2nd Budget attempt kre ar Income Earnings Other (gifts, etc.) Total income Fixed expenses Variable expenses Periodic expenses Emergency savings Total expenses Total income less expenses On the back of this page, write a note to Maria explaining what a budget is and what fixed, variable, and periodic expenses are. Explain ways in which Maria might reduce her current expenditures to meet her budget and begin to save. Explain why having an emergency fund is important. Identify at least three savvy spending and saving principles that might help Maria and explain why they would help her. @2022, Federal Reserve Bank of St. Louis. Permission is granted to reprint or photocopy this lesson in its entirety for educational purposes, provided the user credits the Federal Reserve Bank of St. Louis. 4.12