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Modify the budget to reflect the new financial plan

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Reference no: EM132864804

You have a net income of $40000/year. Your expenses include the following:

Rent: $800/month

Insurance: $225/semi-annually

Car Payment: $315/month

Car Expenses: $1000/year

RRSP: $50/month

Entertainment: $50/week

Cell Phone: $75/month

Food: $500/month

Problem a) Create a budget. 

Problem b) Modify the budget to include a savings plan of $100/week. 

Problem c) You paid off your car and have decided to buy a house. Your mortgage payment is now $1050/month. Modify the budget to reflect this new financial plan.

Reference no: EM132864804

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