You are putting together your first post-graduation budget. Your take-home or net pay will be $2,500 per month. You estimate your monthly costs to be rent of $800, car payment of
$350, car insurance of $150, car maintenance of $50, entertainment of $500, food expense of
$250, cable bill of $75, mobile phone of $100, student loan payment of $100 and other
expense of $300. How would you describe your budget after analyzing all of your income and
expenses?
A. You have a surplus of $175
B. You have a deficit of $175
C. You have a deficit of $2,675
D. You have a surplus of $2,500