One month the family tries shopping around for bargains at different supermarkets. They are able to reduce the amount they spend on food from $700 that period to $615. What percent of their monthly income did they save?
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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%|
|Transportation (car payment, insurance, bus fare)||$420||12%|
|“Just in case” funds||$70||2%|