Essays on Monthly Expenses

Budgeting is the process of calculating monthly expenses from one’s income. Developing budgets allows individuals to know in advance, whether they would have enough money after paying for all expenses to spend on the things that they want to do like going to the movies or going on holidays. Budgeting helps individuals to keep their priorities straight. With budgeting, they can focus on and prioritize the list of things to do and spend their available budget accordingly. In lament terms, budgeting stop individuals from wasting their money on unnecessary things that they do not need. Keeping a monthly ...

1. Jan and Bill Smith are developing a familiar financial plan for the future. They have plans to change and old and paid car with a new one, sell the current house to a new house. All the decisions they want to make require studying the current and future financial conditions of the family to avoid a bankruptcy risk. There is not enough information about the finances of the couple, but with the current assets of the family, it is possible to find valuable information. Table 1 shows the balance sheet of the family considering current assets and liabilities. ...

Q.1. Recipes are innate knowledge from experience or shared stacks of knowledge that are implicit instructions for everyday. Discuss 3 recipes that a person can use in a typical classroom or home situation. Be as precise as possible about the exact conditions under which one can use these recipes and how you acquired them. Answer. Recipes are the knowledge acquired from the system of relevance which varies with the expert knowledge in terms of being partially clear and prone to eventual contradictions depending upon the source of information (Appelrouth and Edles 545). In simpler terms, recipes are information which ...

Q1 (a) Cash Flow Statement for the period 1 Jan 2015 to 31 December 2015

The missing/modified figures (as shown in yellow in the cash flow statement) are calculated as follows: Employment income, Keaton, Given, Gross Salary and Bonus= $120,000.00

Alyssa,

Given total salary and bonus=$64,800

Half paid in Aus and half in Singapore,

Thus her Salary and bonus paid in Singapore=$32,400

Employer’s CPF contribution,

Keaton- 37 % of 120,000=$44400 Alyssa- 20% of $32,400=$6480

Dividend and rental income

Dividend – Keaton-No dividend in 2015 Alyssa, $689 in 2015 Rental income Keaton and Alyssa combined rental income for property in Singapore registered under joint tenancy agreement is $3,050 per month or $36600 for the year.

The portion of CPF and cash used for the housing installment is as mentioned below.

Total housing installment =$4099

Keaton:

Total monthly income=$10, ...

Part A

In the following two scenarios the lives of a black female and white male with distinctly different lifestyles are described. Evidence of the wide gaps in society are clearly displayed by the following two examples. The black female is born to a single mother who has a high school education; currently unemployed after losing her full-time job at a school cafeteria after Hurricane Katrina forced the school to shut down. In addition to the loss of her mother’s full-time job loss after Hurricane Katrina, the family also lost their rental home, leaving them no option but to live in a FEMA trailer. ...

- Identify the problem they have now or will have in the future. The first problem which the couple is currently facing is overspending. After deducting all the expenses which the couple is incurring monthly from their total combined income, John and Mary are incurring a monthly deficit of $3,317.95. This computation is based on the net earnings of the couple after deducting income tax and voluntary superannuation contribution, which both John and Mary participate in (ATO, 2014). This is in spite of the numerous income sources which they individually have and bearing in mind also that they ...

FINANCIAL PROJECT - In order to solve this problem the information is given regarding the total monthly loan payment ,the interest rate is given the outstanding loan balance is given and the time period is unknown. We can find that by using a financial calculator and total time period for the loan is 30 years. - Total Time Period is 20 years in case 1 and 25 years in the case 2. Now assuming monthly compounding 20 years is equal to 240 months and 25 years is equal to 300 months. Since the interest rate is 5.75% annually ...

I was born and raised in another country, and then I moved to America looking for the American dream like many others. Having come from a different country, life in America is hard especially due to the fact that I live alone. I have to work to be able to take care of my financial needs. I have to work more than job in order to survive. And live a comfortable life. I calculated my monthly expenses which came to a total of $1,440. This simply means I have to work two jobs in which I earn $ 2086. Best thing ...