Scenario 1 Lisa is a third-year college student living alone in an apartment. She works 20 hours a week at a local bank. She makes $10 per hour. Lisa has a savings account that she built up during high school and by working full-time summer jobs. During the school year, she withdraws $350 per month in order to help cover her living expenses. Lisa’s college tuition and books are covered by her scholarships. Lisa’s parents help her by providing an additional $500 a month. Use 80% of Lisa’s gross income for the month for her net income. Lisa’s parents also provide health insurance. Lisa’s fixed monthly expenses are:

Rent: $600

Renters Insurance:$25

Car Insurance: $110

Utilities: $60

Cell phone: $60

Cable/Internet: $40

Lisa’s budget must include: Giving, Saving, Food, Gas, Entertainment, and Personal.

Scenario 2

James works full-time as an entry-level web designer since earning his certification. He earns $47,000 a year. He rents an apartment by himself. He has a loan, which he used to purchase furniture, with a balance of $1240, with about two years left to pay. Unfortunately, to celebrate his first job, James also financed a new car. His car cost $28,000. His payments are $554 a month for a term of 5 years. James has health insurance and disability insurance through his employer, which costs him $185 a month. James takes home 78% of his pay. James’ fixed monthly expenses include:

Rent: $950

Renter’s Insurance: $25

Health/Disability Ins: $185

Retirement 401(k): $157

Car insurance: $120

Utilities: $100

Cell phone: $85

Cable/Internet $70

Loan $150

James’ budget must also include Giving, Saving, Food, Gas, Entertainment, and Personal.

Scenario 3

You are given a budget to go grocery shopping. You are given $40 to complete this task. You must show all the items that you have chosen, as well as your work to get to your final cost.

You must purchase two packages/pounds of TWO items from Column 1.
From Column 2, you must choose 2 items from the list.
From Column 3, you must choose 2 items from the list.
From Column 4, you must choose 3 items from the list.