Spreadsheet: Budget

Tom graduated from college last year and found a new job. The job pays $2,500.00 per month. Tom's budget is shown below. See if you can figure out if Tom makes enough
money to pay his bills.

Tom's Monthly Income $3,000.00

Expenses
January February March April May June July August September October November December Totals
Rent $600.00 $600.00 $600.00 $600.00 $600.00 $600.00 $600.00 $600.00 $600.00 $600.00 $600.00 $600.00 $7,200.00
Electric $30.00 $55.00 $65.00 $85.00 $100.00 $115.00 $115.00 $120.00 $115.00 $85.00 $55.00 $50.00 $990.00
Water $22.00 $22.00 $22.00 $22.00 $22.00 $22.00 $22.00 $22.00 $22.00 $22.00 $22.00 $22.00 $264.00
Car payment $500.00 $500.00 $500.00 $500.00 $500.00 $500.00 $500.00 $500.00 $500.00 $500.00 $500.00 $500.00 $6,000.00
Insurance for car $125.00 $125.00 $125.00 $125.00 $125.00 $125.00 $125.00 $125.00 $125.00 $125.00 $125.00 $125.00 $1,500.00
Apartment Insurance $20.00 $20.00 $20.00 $20.00 $20.00 $20.00 $20.00 $20.00 $20.00 $20.00 $20.00 $20.00 $240.00
Taxes on salary $825.00 $825.00 $825.00 $825.00 $825.00 $825.00 $825.00 $825.00 $825.00 $825.00 $825.00 $825.00 $9,900.00
Clothing $50.00 $50.00 $50.00 $75.00 $75.00 $75.00 $75.00 $25.00 $25.00 $100.00 $100.00 $50.00 $750.00
Entertainment $100.00 $100.00 $100.00 $100.00 $100.00 $100.00 $100.00 $100.00 $100.00 $100.00 $100.00 $100.00 $1,200.00
Credit Card payments $110.00 $110.00 $110.00 $110.00 $110.00 $110.00 $110.00 $110.00 $110.00 $110.00 $110.00 $110.00 $1,320.00
Food $150.00 $150.00 $150.00 $150.00 $150.00 $150.00 $150.00 $150.00 $150.00 $150.00 $150.00 $150.00 $1,800.00
Total Expenses $2,532.00 $2,557.00 $2,567.00 $2,612.00 $2,627.00 $2,642.00 $2,642.00 $2,597.00 $2,592.00 $2,637.00 $2,607.00 $2,552.00 $31,164.00

Average Monthly Expense: $230.18 $232.45 $233.36 $237.45 $238.82 $240.18 $240.18 $236.09 $235.64 $239.73 $237.00 $232.00

Tom's Income for

the entire year? $36,000.00

Tom's expenses
for the entire year? $31,164.00

Balance? $4,836.00
(income minus expenses)