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
Accepted Solution
A:
Answer: overspending $50 per monthStep-by-step explanation:Income (Money In): Expenses (Money out): $800 Rent = $400 Food = $200 Gas = $100 Insurance = $ 50 Phone = $100 TOTAL = $800 TOTAL = $850Jessie has more money out than money in so she is overspending by $850 - $800 = $ 50