Question: You will be sharing your living quarters with another person. Annually, you make $16,640. of which $1,800 goes to pay taxes. Monthly, you earn $1,236.66. Your total expenditures will include the items listed below.
Categories of Expenditures: Rent, rental insurance, telephone, electricity, gas heat, car payment, car insurance, car expenses (gas and repairs), furniture expenses, clothing expenses, food (eating in), eating out, medical insurance, medical expenses, credit card bill, savings account, checking account, stocks and bonds, IRA or Roth IRA, entertainment, laundry and toiletries, other.
List the monthly cost of each of those expenses. Other questions to What was your largest monthly expense? How much money did you have left over at the end of the month? What expense(s) surprised you the most? Why? What expenditures did you have to reduce in order to meet your other monthly expenses?