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| October 30, 2018
Write my research paperQuestion descriptionZERO-BASED BUDGET ACTIVITYFor this assignment, you will modify and construct two budgets based on two case studies. You will also create your own budget. To complete this activity:Download the Student Budget Form .docor .rtf or use the budgeting tool on foundationsU to complete three zero-based budgets: one for each student described below and a personal one based on your income (this may include a regular allowance from your parents) and expenses.
Student Scenario OneMarcus, a high school student, works at a lumberyard making $10.50 an hour. With his academic and sports schedule, he is able to work 25 hours a week. He can pick up extra hours, but not consistently. Marcus lives at home, so he has very few bills. He is responsible for his cell phone bill, which is $65 a month. He pays for his auto insurance, which is $1,200 a year, and he pays for gas, maintenance and repairs on his car. Lastly, Marcus is responsible for his spending money. He has a fully funded emergency fund of $500 but has a goal of saving additional money for new tires. (As a high school student, assume that groceries, health insurance, and utilities are expenses covered by his parents.)*Remember to compute net pay by taking 20% out for taxes.Student Scenario TwoJenna works at the grocery store and earns $9 an hour. She is busy with extracurricular activities and only works 20 hours during the week. However, she picks up an eight-hour Sunday shift once a month, for which she earns time and a half. Jenna also lives at home and has health insurance under her mom’s plan. She is expected to pay for her own car repairs, maintenance and gas, as well as her auto insurance, which costs $1,000 a year. Jenna wants to take a trip to Mexico with her friends next year, which will cost $1,500.*Remember to compute net pay by taking 20% out for taxes.Your Personal BudgetCreate a zero-based budget based on your own income (may include allowance or part-time job).***** I get a $700 a week from work.*Remember to compute net pay by taking 20% out for taxes if you have a job.Complete all income and expenses on the budget form with the information provided in the scenarios.After completing all three budgets, answer the following questions in a minimum of one paragraph each.Explain how writing a monthly budget helps you manage spending.Explain how writing a monthly budget helps you achieve financial goals.©Copyright 2000-2018. All Rights Reserved. TermPaperChampions.com: The most reliable provider of custom academic papers. Our writers are here to help you complete papers from all disciplines and academic levels . You can always trust us to deliver.
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