A budget for a family of four — Question 3

The family makes a decision to save their entertainment funds every month so they can take a special trip during the summer. How much money will they save in 12 months?

Calculator

Budget for a family of four
Total take-home income: $3,500

Expenses Amount Percentage of Income
Housing costs (mortgage payment and insurance) $1,050 30%
Food $700 20%
Clothing $350 10%
Transportation (car payment, insurance, bus fare) $420 12%
Medical $420 12%
Savings $350 10%
Entertainment $140 4%
“Just in case” funds $70 2%