You are a recent graduate slarting your first job with a monthly income of R12000. You need to create a monthly budget to manage your expenses and savings. Steps: - List your monthly expenses (e.g., rent, groceries, etc.). - Allocate \( 10 \% \) of your income to savings. - Include a financial goal (e.g., saving for a car, paying off a student loan, or buildin an emergency fund). - Create a budget table showing your income, expenses, and savings.

Below is an example of how you might set up your monthly budget. In this example, you earn R12,000 per month. You’ll allocate 10% (R1,200) to savings and plan your other expenses to stay within your income. One financial goal you might include is saving for a car. You can adjust amounts as needed based on your actual spending priorities. Step 1. List Your Monthly Expenses and Allocate Savings • Monthly Income: R12,000 • Savings (10%): R1,200 (toward your goal of saving for a car) Proposed Monthly Expenses (Total should equal R12,000 – R1,200 = R10,800): • Rent: R4,000 • Groceries: R3,000 • Transportation: R1,500 • Utilities (electricity, water, etc.): R800 • Mobile/Internet: R500 • Entertainment/Dining: R500 • Clothing & Miscellaneous: R500 Step 2. Create a Budget Table ──────────────────────────────────────────── Monthly Budget ──────────────────────────────────────────── Description Amount (R) ──────────────────────────────────────────── Income 12,000 ──────────────────────────────────────────── Expenses: Rent 4,000 Groceries 3,000 Transportation 1,500 Utilities 800 Mobile/Internet 500 Entertainment/Dining 500 Clothing/Miscellaneous 500 ──────────────────────────────────────────── Total Expenses 10,800 ──────────────────────────────────────────── Savings 1,200 ──────────────────────────────────────────── Total Allocated 12,000 ──────────────────────────────────────────── Step 3. Highlight Your Financial Goal Goal: Begin saving for a car. By setting aside R1,200 per month, you'll steadily build toward a down payment or eventual purchase. Adjust your savings amount or timeline as needed based on the total cost of the car you’re aiming for. This budget helps ensure that your necessary expenses are covered while you also set aside money for your future financial goals. Feel free to fine-tune the amounts based on your actual spending and priorities. Enjoy your new start and good luck on your financial journey!