A plan for how to spend your money

What is a budget?

How do you spend your money each month?

Work with a small group to make of list of things you spend money on each month. For example:

•Rent•Groceries

Work together with a partner to figure out Mark’s budget.

Please help Mark make a budget.Mark earns $3700 per month at his full time job. He

rents an apartment for $1560 per month. He pays $350 per month for his car payment. He also spends $40 dollars per week on gas. The insurance on the car is $95 per month.

Each month he pays $25 for the water bill. The electricity bill is about $50. Mark pays $70 for cable, phone and internet. He pays $55 per month for his cell phone.

Mark is single and eats out a lot. He spends 80 dollars a week on restaurant lunches. He is interested in finding a wife so he is dating a lot. He has a date every Friday night and spends $70 on dinner and a movie or the theater. He doesn’t cook, so his grocery bill is only about 100 dollars per month.

Mark is trying to save money for a down payment on his first house. How much is Mark able to save per month?