Question Description
Please choose two assignment's to complete.
Family Budget Sheet
Imagine that this is your family. Likeother families in similar situations, yours will have to make difficultdecisions about how to spend your money. Every month you have to makechoices about how to meet all your financial responsibilities, includingfeeding your children. Currently, your budget contains no room forluxuries, such as entertainment or a car.
Item Column #1 Column #2
Rent (2 bedroom apartment) $800.00
Phone $40.00
Gas, Water & Garbage $60.00
Groceries $380.00
Transportation (old car) $160.00
Entertainment
Medical Care $60.00
(addition to basic employer coverage)
Savings
Other
Total Expenditures $1,500.00
Monthly Income $1,500.00
Balance $0.00
Assignment 1: Your child gets sick. The doctor’s visit, the tests, and the medicationcosts are $300.00 more than what your employer paid health insurancewill cover. How will you pay the medical bills?
Assignment 2: Youlose your job. The unemployment benefits, which begin one week afteryour last paycheck arrives is only equal to two-thirds of your regularpay. Your total monthly income decreases by $400.00. How will youbalance your budget?
Assignment 3:You catch the flu and miss four days of work. Without paid sick leave,your income is reduced by $160.00. How will you make up for thisshortfall in your budget?
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