Question

Creating and following a budget helps individuals manage their money and prevents overspending. Please put the following information in the blanks below. In blank 1, create a budget for Jessie Robinson, whose information is below. (2 points) In blank 2, indicate whether Jessie is living within her means or overspending (1 points) In blank 3, justify why Jessie is living within her means or overspending. (2 points) Jessie Robinson: Age: 25 Marital status: single with no children Monthly rent: $400 Monthly income: $800 Monthly food bill: $200 Monthly gas expense: $100 Monthly car Insurance: $50 Monthly cell phone bill: $100

Answer 1

Answer: overspending $50 per month

Explanation:

Income (Money In): Expenses (Money out):

$800 Rent = $400

Food = $200

Gas = $100

Insurance = $ 50

Phone = $100

TOTAL = $800 TOTAL = $850

Jessie has more money out than money in so she is overspending

by $850 - $800 = $ 50