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Carl needs help with his budget. He knows you are an expert at it and wants you to make him one. He has given you the following information for the month of May about how much he typically spends in a month:
Part Time Work……..$9/hour…..80hrs/month
Mow Neighbors Lawn……$30/time…..3 times/month
Tax withholding…..30% of gross pay
call phone….$100 unlimited plan per month
fast food…..$30 per month
movies………$20 per month
car insurance………..$70 per month
gasoline…….$25 per month
car payment………..$200 per month
oil change…….$30 every 3 months due in May
Mothers Day present….$25
Carl also really wants to go to the Twins Game in Kansas City in August 8-10. He expects to pay $300 for transportation, hotel, food, and tickets. He has not yet begun to save
Also Carl will start college in spetember of 2010. his parents will help him pay, but they told him he would have to pay a substantial portion of it. He wants to start saving.
In June Carl has similar expenses, but he got a raise at work, he is now making $10 per hour. He isplanning on working the same amount of hours. Also, he will need to get a father’s day persent. He also will have to mow lawns 4 times this month
Make a monthy budget for may and june. Include is imcome (pay check, mowing lawn, taxes, and net pay)?

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