To determine how much money you have left for savings and discretionary spending each month, follow these steps:
1. Calculate the total expenditures:
According to the given budget, your total expenditures are:
[tex]\[
\$ 1,300
\][/tex]
2. Find your net income:
Your net income is:
[tex]\[
\$ 1,850
\][/tex]
3. Determine the money left for savings and discretionary spending:
Subtract your total expenditures from your net income to find the money left for savings and discretionary spending:
[tex]\[
\$ 1,850 - \$ 1,300 = \$ 550
\][/tex]
So, you have [tex]\(\$ 550\)[/tex] left each month for savings and discretionary spending.
4. Include a savings category of \[tex]$ 100 per month:
To find out how much you have left for discretionary spending after including a savings category, subtract the savings amount from the money left for savings and discretionary spending:
\[
\$[/tex] 550 - \[tex]$ 100 = \$[/tex] 450
\]
Therefore, you would have [tex]\(\$ 450\)[/tex] left for discretionary spending each month.
In summary:
- Money left for savings and discretionary spending each month: [tex]\(\$ 550\)[/tex]
- Money left for discretionary spending after including a \[tex]$ 100 savings category: \(\$[/tex] 450\)
