Step 1: Gather materials and necessary information. a) Ask your teacher which word-processing software you will be using. b) Keep your lesson and assignment open in case you need to review what you have learned. Step 2: Read and follow each set of instructions carefully. a) To create your budget, type an amount of money into each cell of the tables you have been given. Be sure to ask your teacher for help if you are not sure how to do this. b) Make sure you complete the questions on each page. Assignment: Revising a Budget You have just been promoted at your job, and now you have a net income of $2,190. You would like to use this income to meet new financial goals. 1. Create a budget that will allow you to save at least $100 by the end of October. (10 points) Remember, your old budget reflected a net income of $1850.00 and included these expenses: • $600 for your rent • $475 for your car payment, car insurance, and gas • $230 for your utilities, phone, and Internet • $300 for your groceries • $50 for your entertainment • $20 for your renters insurance • $75 for discretionary spending • A final net total of $100 saved per month Your new budget needs to include these changes: • A new line to budget $50 per month toward a new computer • Other expenses may be modified as you choose. • A final net total of at least $300 saved per month Scroll to the next page to edit your budget with these changes in mind. Monthly Personal Budget Income and Expenses Old Budget New Budget One-Year Total Income Total income Fixed expenses Total fixed expenses Variable expenses Total variable expenses Totals Total expenses Net savings 2. Which budgetary category changed the most between your old budget and your new budget? Why? (5 points) 3. How does your new budget help you to meet your short-term goal of buying a new laptop? (5 points) 4. How does your new budget help you to meet your long-term goal of saving for college? (5 points)