Below is a chart of common personal budget line items. This budget reflects income and expenses for a typical month. Use Excel to complete the chart with your current salary or your goal salary and answer the questions that follow. Include additional monthly expenses as needed. https://canvas.westcoastuniversity.edu/courses/19120/files/6869214/download?wrap=1 Calculate the items below. Note: Using the function (fx) toolbar will help save you time. How much money do you earn (before taxes) in a:Week:Month:Year:How much money in state and federal taxes is withheld from your paycheck every two weeks?Calculate your take-home pay for one month.How much discretionary money do you have after paying living expenses?Suppose you want to start saving more money. How much money would you need to save each month if you saved 5%, 10%, and 15% of your discretionary money?5% =10% =15% =Suppose you want to save the maximum amount of 15% of discretionary money each month. How much money do you have leftover to use each week for going out, gas for the car, and entertainment?In a one-page paper, address the following questions. What sort of sacrifices will you need to make to accommodate all of your wants and needs?Do you see any short cuts or quick ways to achieve your goals? Explain.Would you need to make any ethically questionable choices or go against your personal values in order to meet your goals? Explain.
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