Question: Sharon developed a basic plan for Alana to track every dollar she spent over the course of a month. Alana collected all her receipts in


Sharon developed a basic plan for Alana to track every dollar she spent over the course of a month. Alana collected all her receipts in a shoebox and reviewed them with Sharon at the end ofthe month: I Coffee: 10 lattes @ $4 each Movies :3 movies @ $12 each Food :4 meals with friends @ $12 each ; 20 snacks [energy drinks @ $3 each Clothes :3 trips to the mall with friends @ $30 per trip Car insurance: Parents make her pay $70/month toward policy in exchange for driving family car Gas for car: 2 fill-ups @ $35.00 each Cell phone: Parents expect her to pay $50/month toward family plan Shoes :1 pair @ $60 To help make sense of all of this information, Sharon asked Alana to organize the information by using the budget template provided below. In the category column, she would list all of her various expenses. She would then make a judgment call about whether each expense was a Want or a Need. In the Monthly Cost column. she would total up the cost for each of the expenses. In the last column, she would calculate how much that item was as a percentage of her total costs.This would help her determine where she was spending most of her money in the past month. Complete this chart with the information provided above: _- -- $90 Carlnsurance $70 13.21% Gas $70 13.21% Cell phone bill $ 50 9 .43% $60 11.32% Alana's reaction after completing this process was the following: "Wait a second, Sharon! i think my boss is ripping me off! l work 15 hours a week, on average, at $11/hour. According to my receipts above, l'm spending much less per month than l'm earning, but, as we 've already established, We only got $56 saved up from 3 years of working. How did this happen? I need to speak to my boss "
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