| Describe in detail what you need | 12 Case Study Scenarios in paragraph form with all amounts given for a personal budgets but not for businesses |
| How many pages | 5 |
Lisa is a single mother living in a suburban area. She earns $3,500 per month from her full-time job. After deducting taxes and obligatory expenses, she has $2,800 left. Her monthly expenses include rent of $1,200, groceries costing $400, childcare at $600, transportation expenses of $200, and utility bills of $150. This leaves her with $250 discretionary income, which she uses for savings and leisure activities.
Michael just graduated from college and landed a job that pays him $4,200 per month. He lives downtown where rent is high; he pays $1,800 for his apartment. With student loans of $300 per month, a $200 monthly transportation fee, and $300 on groceries, his total essentials amount to $2,600. This leaves a remainder of $1,600. Michael decides to save $800 for future investments and spends the rest on socializing and personal care.
Tom and Susan are a retired couple with a fixed income of $3,500 from pensions and Social Security benefits. Their monthly expenses include $1,000 for housing, $400 for healthcare, $300 for groceries, and $200 for utilities. They also set aside $250 for miscellaneous expenses like hobbies. Their overall budget leaves them with $1,350, which they invest in travel plans and home renovations.
Sarah is a college student who works part-time earning $1,200 a month. She lives on campus and pays $500 for housing. With a grocery budget of $150 and spending $300 on transportation and textbooks, her essential expenses total $950. This leaves Sarah with $250 for entertainment, dining out, and saving for her future aspirations.
James and Amy, newlyweds, have a combined monthly income of $7,000. Their largest expense is their apartment rental at $2,500. With a $700 grocery budget, $250 for utilities, and $400 for car payments, their fixed expenses are $3,850. They allocate $1,000 for savings and $1,150 for discretionary spending, including dining, entertainment, and miscellaneous expenses.
Julia is a freelance graphic designer who averages $5,000 monthly but can have fluctuations in her income. Her rent is $1,800, and she spends $300 on health insurance, $400 on groceries, and $200 on business expenses (software and marketing). This totals $2,700 in essential expenses, leaving Julia with $2,300. She aims to set aside at least $1,200 for her savings while allowing herself some flexibility for entertainment.
Ryan works part-time at a retail store, earning $1,500 each month. He pays $700 for his studio apartment and spends $200 on groceries, $150 on transportation, and $100 on utilities. His total expenses are $1,150, which gives him only $350 in discretionary income. This budget pressures him to limit dining out and entertainment, forcing him to look for additional freelance opportunities to improve his financial situation.
Margaret is recently retired and now lives alone in a modest home. She receives $4,000 each month from her retirement savings. Her monthly expense breakdown includes $1,200 for housing, $300 for groceries, $200 for utilities, and $400 for healthcare costs. With total monthly expenses of $2,100, Margaret has $1,900 to spend on traveling and rejuvenating her hobbies.
The Robinson family consists of two parents and two children, with a household income of $6,000 monthly. They spend $2,000 on their mortgage, $800 on groceries, $400 on childcare, and $150 on utilities. This totals $3,350 in monthly expenses, leaving them with $2,650. They decide to save $1,000 and allocate the remaining amount for education savings and family entertainment.
Daniel, a full-time marketing employee, also runs an online store. He earns $3,000 from his job while his side business fluctuates but averages $1,500 monthly. His total income is $4,500, but he spends $2,000 on living expenses, including rent and groceries. After fixed expenses, Daniel has $2,500 left. He sets aside $1,000 for reinvesting in his store while leaving $1,500 for personal development, travel, and leisure.
Katie is a successful software engineer making $8,000 per month. Her expenses are still significant; she pays $2,500 for her mortgage, $800 for groceries, $500 for transportation, and $300 for utilities, totaling $4,100. With $3,900 remaining, Katie allocates $1,500 towards investments and savings and spends the leftover $2,400 on luxury goods and leisure travel.
Jessica works in various gig economy jobs, averaging $3,000 a month. Her biggest expense is $1,200 for rent; she spends $400 on transportation and $250 on groceries. With her essential expenses totaling $1,850, she has $1,150 left for discretionary spending, savings, and emergencies. She strives to maintain a balance between work and leisure while ensuring secure savings from her fluctuating income.
Each of these scenarios presents a different financial landscape, illustrating the diversity of personal budgeting experiences. They provide essential insights into how individuals and families navigate their financial responsibilities and aspirations while adapting to their unique circumstances.