Budgeting and Checking Account Scenario Assignment

In this assignment, you will read a scenario about a high school student managing their budget and checking account. Carefully follow the details of the scenario and answer each question, showing your work where appropriate. This assignment will help you practice real-life budgeting and math skills.

Scenario:

Maria is a high school junior who just opened her first checking account. She works part-time at a local grocery store and earns $300 every two weeks. Her parents give her a $25 weekly allowance. Each month, Maria has the following expenses:

• Cell phone bill: $45
• Streaming service: $12
• Transportation (bus pass): $30
• Eating out with friends: $40
• School supplies: $15

At the start of the month, Maria has $120 in her checking account.

How much money does Maria receive in total from her job and allowance in one month? Show your calculations.

What is Maria’s total monthly expense? List the expenses and show your calculations.

After receiving her income and paying all her monthly expenses, how much money will Maria have left in her checking account at the end of the month? Show your calculations.

If Maria wants to save $50 each month, does she have enough money left after her expenses to do so? Explain your answer with calculations.

Suppose Maria spends an extra $20 on eating out one month. How much will she have left in her checking account at the end of that month after all expenses? Show your calculations.