4) Suppose Jasmine earns $3000 per month after taxes. She spends $1000 on rent, between $80 and $100 on groceries, her electricity and water cost between $120 and $160, car insurance $80, car payment $150 and gas is $40 to $50 per month. a) Assuming she should be spending 60% and 40% of her remaining pay on wants and savings, how much should she be spending in each of those categories?

b) Why is it important to budget for the top end of your variable expenses? (please answer both all parts of the question)