Imagine that you are a college student who lives away from home. you have a work-study job at your college library, and you earn about $600 each month. you have one major long-term goal: you want to save up money to visit your family soon, and you need at least $100 for your train tickets.
1. create a budget that will allow you to save at least $100 by the end of october. (10 points)
make sure your budget includes these fixed expenses:
• the cost of rent ($250 each month for your shared apartment)
• the cost of your bus pass ($40 each month)
• the cost of books ($150, but only in september, at the beginning of the school year)
make sure your budget considers these variable expense categories:
• the cost of food
• the cost of clothing
• discretionary spending (money to spend freely)