Based upon what you read in “The European Union and their Budget”, practice making a budget on your own provided you make $2,000 a month. You start with $200 deducted for taxes. Rent with utilities included is $900. What kind of things would you put into a budget for yourself? For example: food, car insurance, gas, entertainment, cell phone, savings.

Answer:

If I make $2,000 a month and $200 is taken out for taxes, I would have $1,800 left. After paying $900 for rent and utilities, I would have $900 remaining. I would make a budget that includes food, gas, car insurance, a cell phone bill, entertainment, and savings. For example, I might spend $250 on food, $120 on gas, $100 on car insurance, $60 on my cell phone, $70 on entertainment, and put the rest into savings or emergency expenses.