Use Michael$$s cash$-$based budget and some outside research to answer the following questions.

$$ Look at Michael$$s formatted budget created in Part $2$ compared to the original version in Part one.

$$ Does formatting make a difference in your ability to comprehend the data?

$$ What additional changes would you make to the formatting to make it more digestible?

$$ Does Michael have a surplus or a shortfall each month?

$$ If he has a surplus $($extra money each month$)$ what would you recommend he do with the extra

money?

$$ If he has a shortfall $($expenses exceed income$)$ what actions might he take to overcome the

shortfall?

$$ Familiarize yourself with the cash budget.

$$ What are the major areas of the cash budget?

$$ Identify three specific expenses included in Michael$$s budget that you are currently paying for or

will be paying for upon graduation.

$$ Identify three specific expenses included in Michael$$s budget that you do not expect to pay for or

will pay for upon graduation.

$$ Are there any income or expense items that you currently pay for or will be paying for that is

missing from the template?