What is the Budget Evaluation based on data below? must answer the questions.

• How will you save for your future? What types of investments, investment vehicles, or investment products or services could help you reach your goals? How will you/do you research investment opportunities?
• In the future, how will you manage your credit? How will you determine when/how to borrow?
• The Bible says in Luke 12:48 that "to whom much is given, much will be required." From a Christian worldview perspective, what is the importance of incorporating charitable giving in your personal budget and how might you accomplish that?

Job: Book Keeper		inputs	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec	Full Year
Salary (pre-tax)		$ 55,000	$ 4,583	$ 4,583	$ 4,583	$ 4,583	$ 4,583	$ 4,583	$ 4,583	$ 4,583	$ 4,583	$ 4,583	$ 4,583	$ 4,583	$ 55,000
Less: social security		6.20%	$ 284	$ 284	$ 284	$ 284	$ 284	$ 284	$ 284	$ 284	$ 284	$ 284	$ 284	$ 284	$ 3,410
Less: Medicare		1.45%	$ 66	$ 66	$ 66	$ 66	$ 66	$ 66	$ 66	$ 66	$ 66	$ 66	$ 66	$ 66	$ 66
Less: federal / state income tax		14.0%	$ 642	$ 642	$ 642	$ 642	$ 642	$ 642	$ 642	$ 642	$ 642	$ 642	$ 642	$ 642	$ 7,700
After-tax income			$ 3,591	$ 3,591	$ 3,591	$ 3,591	$ 3,591	$ 3,591	$ 3,591	$ 3,591	$ 3,591	$ 3,591	$ 3,591	$ 3,591	$ 43,093
SAVINGS
Emergency	could do % of after-tax income or flat amount	10%	359	359	359	359	359	359	359	359	359	359	359	359	4,309
Retirement		12%	431	431	431	431	431	431	431	431	431	431	431	431	5,171
other (purpose?)			100	100	100	100	100	100	100	100	100	100	100	100	1,200
other (purpose?)			50	50	50	50	50	50	50	50	50	50	50	50	600
TOTAL SAVINGS			940	940	940	940	940	940	940	940	940	940	940	940	11,280
EXPENSES
Healthcare			250	250	250	250	250	250	250	250	250	250	250	250	3,000
Rent or Mortgage			750	750	750	750	750	750	750	750	750	750	750	750	9,000
Giving	could do % of take-home (after-tax) pay or flat amount	10%	359	359	359	359	359	359	359	359	359	359	359	359	4,309
your expense #4 example: Utilities			150	150	150	150	150	150	150	150	150	150	150	150	1,800
your expense #5			350	350	350	350	350	350	350	350	350	350	350	350	4,200
your expense #6			150	150	150	150	150	150	150	150	150	150	150	150	1,800
your expense #7			200	200	200	200	200	200	200	200	200	200	200	200	2,400
your expense #8			50	50	50	50	50	50	50	50	50	50	50	50	600
your expense #9			100	100	100	100	100	100	100	100	100	100	100	100	1,200
your expense #10			180	180	180	180	180	180	180	180	180	180	180	180	2,160
your expense #11			75	75	75	75	75	75	75	75	75	75	75	75	900
your expense #12
your expense #13
your expense #14
your expense #15
your expense #16
TOTAL EXPENSES
Surplus? Deficit? Does every $ have a purpose?		$ 2,651	$ 2,651	$ 2,651	$ 2,651	$ 2,651	$ 2,651	$ 2,651	$ 2,651	$ 2,651	$ 2,651	$ 2,651	$ 2,651	$ 31,813

Will I be living within my means? Does my income cover my expenses? Do I have enough income to pay my bills?

Based on the data, my after-tax income is $3,591 monthly, and my total expenses are $940 per month. Therefore, I will live by my means as my income exceeds my expenses, indicating I have enough to cover the bills. Even though there were two months that it was a deficit, I still have savings and savings from previous months to cover those months.

Is my budget realistic? How will I be able to tell if it is? What would be something that could hinder my plans? What could be done to overcome that obstacle?

Yes, it is very realistic. As mentioned before, my income covers my expenses, which suggests that my budget is realistic. Additionally, I am living by what is needed and what are essentials to survive and thrive inside the budget of my net income. If my expenses increase unexpectedly, it may strain my budget. To overcome this, I can review my budget regularly, reduce discretionary spending, and find ways to save on essential expenses. If my income decreases, it might affect my ability to meet my financial goals. To mitigate this risk, I suggest building an emergency fund and exploring additional income sources or opportunities for career growth.

Will I be financially independent from my family?

Based on the data, whether I'll be financially independent of my family could be more precise. The data does not include any expenses related to supporting my family. However, if I were solely responsible for my expenses and not rely on my family's financial support, it would suggest a level of financial independence.

Will I have an emergency fund?

Based on the results, I allocate 10% of my after-tax income toward my emergency fund, which amounts to $359 per month. Over the year, this would result in an emergency fund of $4,309.

Will I be saving enough for retirement in my budgets/planning?

I will allocate 12% of my after-tax income toward retirement savings, which is $431 monthly. Over the year, this would result in retirement savings of $5,171. Saving for retirement is a long-term goal, and it's generally recommended to save 10-15% of my income. Therefore, my current allocation is within a reasonable range.

Will I have enough to start giving financially to others?

I will allocate 10% of my after-tax income toward giving, which is $359 monthly. This would result in $4,309 being allocated for giving for the year. Doing so will show a commitment to giving back financially and could allow me to support causes or individuals I care for.