Before you begin, list the expenses you might have if you were living alone, and estimate how much you'd need to budget each month to pay for them. You may have to research local housing prices and utility costs to make this as accurate as possible. Ask for some budget figures from people who are already living on their own. Once you've done this, make categories for your expenses. Then, total up your monthly budget to see what you'd have to earn in order to live on your own. (20 points) 1. How much would you have to earn each month to cover your living expenses? Does this seem like a realistic income for you? 2. Did anything about your estimated monthly budget surprise you? 3. What kinds of preparations and sacrifices might you have to make to live on your own? 4. How does the prospect of moving out seem in light of this budget?

The amount that needs to be earned per month would depend on the expenses that are made for the month. For example,

The expenses like;

Rent

Food

Entertainment

Water Bill

Electricity Bill

LPG

1). The budget(sum of all such expenses) plus savings must be the minimum income.

2). The sum of all such expenses would be the minimum monthly budget.

3). The types of preparations or sacrifices that need to be made would include the cut down in desires and having luxurious items initially.

4). The prospect of moving out in the light of this budget would be an emergency or unexpected situation.

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I will do this example based on typical prices found in Milwaukee, Wisconsin.

HOUSING

Monthly rent - $800 for an apartment with 1 bedroom, and 1 bathroom in the city center.

Electricity + Cooling/Heating + Gas + Garbage + water - $150

Monthly internet - $60

TRANSPORTATION

Monthly pass for public transport - $80

FOOD AND ENTERTAINMENT

Groceries - $100

Eating-out (twice per month) - $50

Cinema (once a month) - $12

Gym membership - $35

So the monthly budget gives us a total of $1,287, which is a very tight budget, and therefore, it is realistic to expect to make more than that to cover all budgeted expenses.

in what process is there a multiple choice answer?