To determine how much money you have left for savings and discretionary spending each month according to your current budget, follow these steps:
### Step 1: Calculate the Amount of Money Left After Expenditures
First, identify your total expenditures and your net income:
- Total Expenditures: \[tex]$1,300
- Net Income: \$[/tex]1,850
Subtract the total expenditures from your net income to find out how much money you have left after covering your expenses:
[tex]\[ \$1,850 - \$1,300 = \$550 \][/tex]
So, you have \[tex]$550 left each month after covering your expenses.
### Step 2: Calculate the Amount Left for Discretionary Spending After Savings
Next, if you decide to allocate \$[/tex]100 each month for savings, you need to subtract this savings amount from the money left after expenditures:
[tex]\[ \$550 - \$100 = \$450 \][/tex]
So, after saving \[tex]$100 each month, you have \$[/tex]450 left for discretionary spending.
### Summary
1. Money left after expenditures: \[tex]$550
2. Money allocated for savings: \$[/tex]100
3. Money left for discretionary spending: \$450
