Problem
Budget Scenario \#2 PAYCHECK \( =\$ 3000 \) Food/groceries \[ \$ 200 \] Wants (movies, eating out) \( \$ 100 \) Savings \( \$ 300 \) Rent/mortgage \( \$ 900 \) Utilities \( \$ 100 \) Travel \( \$ 100 \) Debt \( \$ 50 \) Other \( \$ 100 \) Budget 3: Were you able to follow the \( 50 / 30 / 20 \) rule with this budget? * Record your response to this question below.
Solution
Step 1 ：\text{Necessities} = \text{Food/groceries} + \text{Rent/mortgage} + \text{Utilities} = 200 + 900 + 100 = \$1200
Step 2 ：\text{Wants} = \text{Wants (movies, eating out)} + \text{Travel} = 100 + 100 = \$200
Step 3 ：\text{Savings} = \text{Savings} + \text{Debt} + \text{Other} = 300 + 50 + 100 = \$450
