Directions: Read through each of the scenarios below and create a zero based budget for each person. Remember when creating a zero based budget that you must give every dollar a name. Scenarios:
1. Marcus, a high school student, works at a lumberyard making $10.50 an hour. With his academic and sports schedule, he is able to work 25 hours a week. Remember to take out 20% for income taxes. He can pick up extra hours, but not consistently. Marcus lives at home, so he has very few bills. He is responsible for his cell phone bill, which is $65 a month. He pays for his auto insurance, which is $1,200 a year, and he pays for gas, maintenance and repairs on his car. Lastly, Marcus is responsible for his spending money. He has a fully funded emergency fund of $500 but has a goal of saving additional money for new tires. (As a high school student, assume that groceries, health insurance and utilities are expenses covered by his parents.)