Okay I get 1800 every 2 weeks and 700 every two weeks on another check . Basically on the 7 and 22nd I get the first 1800 then on the 9 and 26 I get the other 700 each check . My rent right now Is 1300 , bills lights gas insurance phone cheer tuition af
Let's break down your income, expenses, and savings goals to get a clearer picture of your financial situation.
### Income
- **First Check:** $1,800 (on the 7th and 22nd)
- **Second Check:** $700 (on the 9th and 26th)
You receive these checks every two weeks, which means you have four checks in a month.
#### Monthly Income Calculation:
1. **Monthly income from first check:**
- 2 checks/month x $1,800 = $3,600
2. **Monthly income from second check:**
- 2 checks/month x $700 = $1,400
3. **Total Monthly Income:**
- $3,600 + $1,400 = $5,000
### Expenses
- **Rent:** $1,300
- **Bills (lights, gas, insurance, phone, cheer tuition, after-school program tuition):** $650
#### Total Monthly Expenses Calculation:
- **Total Monthly Expenses:**
- Rent ($1,300) + Bills ($650) = $1,950
### Remaining Amount After Expenses
1. **Monthly Remaining Amount:**
- $5,000 (Income) - $1,950 (Expenses) = $3,050
### Additional Expenses
- **Food:** $100/week x 4 weeks = $400/month
- **Gas Costs:**
- Daily driving: 60 miles/day x 5 days/week = 300 miles/week
- Monthly driving: 300 miles/week x 4 weeks = 1,200 miles/month
- Gallons needed per month: 1,200 miles / 17 mpg = ~70.59 gallons
- Monthly gas cost: 70.59 gallons x $4.50 = ~$317.66
#### Total Monthly Additional Expenses Calculation:
- **Total Additional Expenses:**
- Food ($400) + Gas ($317.66) = $717.66
### Total Monthly Expenses Including Food and Gas
1. **Comprehensive Total Monthly Expenses:**
- $1,950 (Expenses) + $717.66 (Food & Gas) = $2,667.66
2. **Monthly Remaining Amount After Comprehensive Expenses:**
- $5,000 (Income) - $2,667.66 (Total Expenses) = $2,332.34
### Savings Goals
- **Total Savings Required by December 1:** $4,000
- **Credit Sweep in November:** $500
#### Total Savings Needed in Months Remaining
- Since you need to save for the credit sweep and the total savings goal, let's break it down:
1. **Total savings goal + credit sweep in the remaining time:**
- $4,000 (Savings) + $500 (Credit Sweep) = $4,500
2. **Time Frame:**
- You have approximately 2 months until December 1.
3. **Monthly Savings Requirement:**
- $4,500 / 2 months = $2,250/month
### Feasibility Check
1. **Remaining amount after all expenses per month:**
- Approximately $2,332.34 monthly remaining.
2. **Can you save $2,250/month?**
- Yes, you have enough remainders after all expenses to save $2,250/month.
### Conclusion
With careful budgeting, you’ll be able to meet your savings goal of $4,000 by December 1 and the $500 for the credit sweep in November. Make sure to track your food and gas expenses closely as they can fluctuate. If you find any areas where you can cut back further, it can help you save more as needed.