CHAPTERFoundationsinPersonal FinanceHigh SchoolEditionYousef Kirolos2/8/2021NAME:DATE:TheStudent Budget(1/3)Part1Directions:Use theattachedbudget form or the budgetingtool locatedon foundationsU.comtocre-atethreezero-basedbudgets: one for eachstudent describedbelow and apersonalone based onyourincome (this may include a regular allowance from yourparents)and expenses. Fill in all incomeandexpenses on the form with theinformationprovided.Remember tocompute net pay by taking 20%outfortaxes.1Marcus, a high schoolstudent,worksatalumberyardmaking $10.50 an hour.Withhis academicandsportsschedule, he is abletowork 25 hours a week. He can pick upextrahours,but notconsistently.Marcus livesathome, so he has very few bills. He isresponsiblefor his cell phone bill, which is $65amonth.He pays for hisautoinsurance,which is $1,200 a year, and he pays for gas,maintenance andrepairson his car.Lastly,Marcus isresponsiblefor his spending money. He has a fully fundedemergencyfund of $500buthas a goal of savingadditionalmoney for newtires.(As a high schoolstudent,assumethatgroceries,health insuranceandutilitiesare expenses covered by hisparents.)2Jennaworksat thegrocerystoreand earns $9 an hour. She is busy
