Budgeting

​Peter

Peter, 19 lives in a 2 bedroom apartment, which he shares with his roommate. They split the cost of rent ($800 per month) and utilities.

​How much does Peter earn?

Peter works full-time (40 hours a week) at Wawa and makes $7.50, which is about $300.00 a week ($1,200.00 per month/$14,400 a year before taxes). Based on the expectation that 33% of his salary will be deducted for taxes, Peter will have $804.00 to spend each month.