Making a Personal Budget · Example 4

In the example above, after Carol added before school care for her daughter to the budget, her budget was as shown below. Evaluate Carol’s budget using the 50-30-20 budget philosophy.

\begin{array}{|c|c|c|c|}\hline \text{Income Source} & \text{Amount} & \text{Expense} & \text{Amount} \\ \hline \text{Job} & \text{$2,816.00} & \text{Rent} & \text{$700} \\ \hline \text{Child support} & \text{$320.00} & \text{Car Payment} & \text{$229} \\ \hline & & \text{Student Loan} & \text{$250} \\ \hline & & \text{Car Insurance} & \text{$119} \\ \hline & & \text{Utilities} & \text{$80} \\ \hline & & \text{Health insurance} & \text{$225} \\ \hline & & \text{Clothing} & \text{$75} \\ \hline & & \text{Entertainment} & \text{$200} \\ \hline & & \text{Food} & \text{$275} \\ \hline & & \text{Gasoline} & \text{$275} \\ \hline & & \text{Before-school care} & \text{$252} \\ \hline\end{array}

This problem refers to a figure in its source book that isn't reproduced here.

OpenStax, Contemporary Mathematics · §6.5 Making a Personal Budget · Example 4