Attention: Money 101 will no longer be available after May 31, 2021. After that time the Enrich financial literacy tool will be available at moving forward.
Upon course completion please contact Freddy Burciaga at for a certificate.

Money Management - Head Matters


9. Step 4: Save and Invest

Now, look at the amended expenses for these categories:

If Henry Makes the Following Changes His Monthly Savings Would Be Present Expense New Expense Amount
Drive 200 less miles per month (car gets 20 mpg, gas at $2.50 per gallon) $25 $250 $225
Eat out only once per week at $20 $120 $200 $80
Get parents to keep dog half the time while at work $25 $50 $25
Change to a $50 cable/internet plan $40 $90 $50
Sign on to Public Service plan offering 10% rate decrease for those who cut usage during peak times $8 $800 $72
Change to a $40 per month cellphone plan and cut back on usage to stay within limits $50 $90 $40
Get a roommate and together rent a two-bedroom apartment for $800 per month ($400 each) $200 $600 $400
Buy $50 fewer prepared foods and soft drinks as groceries $50 $250 $200

When Henry plugs these new figures into his expense sheet, he notices something rather remarkable on the bottom (balance) line:

Henry's total monthly income: $2,165
Henry's total monthly expenses: $2,101
Balance: $64

He’s no longer in the hole. The only major change he made was to get a roommate. With the financial help of a roommate, he also achieved a fourth financial goal—he moved into a better apartment.

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