Imagine that you are a college student who lives away from home. You have a work-study job at your college library, and you earn about $600 each month. You have one major long-term goal: you want to save up money to visit your family soon, and you need at least $100 for your train tickets. 1. Create a budget that will allow you to save at least $100 by the end of October. (10 points)
Make sure your budget includes these fixed expenses:
• The cost of rent ($250 each month for your shared apartment)
• The cost of your bus pass ($40 each month)
• The cost of books ($150, but only in September, at the beginning of the school year)
Make sure your budget considers these variable expense categories:
• The cost of food
• The cost of clothing
• Discretionary spending (money to spend freely)

Personal Budget
Income and Expenses September October
Income
Total income
Fixed expenses

Total fixed expenses
Variable expenses

Total variable expenses
Total Total savings

2. If changes happen during September or October, which expenses will you be able to change most easily? Give an example of how you could make a change. (5 points)