Monthly Budget

Match the words with their definitions.

Caroline works part-time at a greeting card company and part-time at a record store. The monthly income from her first job is $600. The monthly income from her second job is $800. What is her total fixed monthly income? Write in numerals.

This month Caroline made $45 by working overtime. What is her total actual monthly income? Write in numerals.

Caroline's planned fixed monthly expenses include: • $200 for rent (she shares an apartment with two friends) • $175 for car payment • $220 for car insurance Her planned flexible expenses include: • $100 (to save for going to trade school) • $150 for food • $40 for gas and oil • $50 for clothes • $60 for entertainment • $30 for personal items Calculate Caroline's planned monthly expenses. How much are they? Write in numerals.

This month Caroline spent more on fixed, regular expenses because • her rent went up to $225, starting this month • her monthly car insurance premium went up to $295 Her flexible expenses actually were: • $190 for food (she had a dinner party for which she hadn’t budgeted) • $60 for gas and oil (her car needed an oil change) • $34 for parking and bridge tolls • $220 for car repairs • $80 for a new pair of running shoes • $70 for entertainment • $60 for personal items Her unexpected expenses: Caroline got two speeding tickets in one week. The total cost of both tickets was $230. Calculate Caroline's actual monthly expenses. How much are they? Write in numerals.

What is the difference between Caroline’s planned expenses and her actual expenses? Write in numerals.

In what areas did Caroline overspend?

In what area did Caroline spend most?

Which proverb best suits Caroline’s financial situation?

Give your recommendations on how to improve the situation for Caroline. Write 50—70 words.