High School Economics Quiz
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PERSONAL FINANCE AND CONSUMER ECONOMICS
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A recent college graduate is creating their first monthly budget. Their net (after-tax) income is $3,200. Their expenses are as follows: Rent: $1,200; Student Loan Payment: $250; Car Payment: $300; Car Insurance: $120; Utilities (estimate): $150; Groceries: $400; Gasoline: $100; Gym Membership: $50; Streaming Services: $40; Dining Out & Entertainment: $300.
Based on the provided information, what is the graduate's discretionary income after all fixed expenses and essential variable expenses ('needs') are accounted for, but before any 'wants' are paid?
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