Question

chloe
elementary school teacher (full - time)
age 29
family married (1 kid)
goal: chloe would like to re - model her master bathroom
chloe would like to get a new toilet, flooring, sink and paint. shes estimated the job will cost $6,000. if she and her husband decide to save their \available funds\ every month, how many months will it take until she can do it?

income
teachers salary $2450
husbands salary $1800
expenses
housing $1250
transportation $550
cell phone $130
groceries $680
utilities $250
loans (credit cards, student loan) $400
childcare $650
savings $200
available funds ?????

enrique
nursing home aide (part - time)
waiter (part - time)
age 32
family girlfriend (2 kids)
goal: enrique would like to purchase health insurance for his family.
enrique feels uncomfortable without health insurance for himself or his two kids. a plan he is looking at is $100 a month. his girlfriend is staying home with his kids because he otherwise cant afford childcare. is he able to get health insurance with available funds? how much more money would he need each month?

income
nursing home paycheck $900
waiter paycheck $700
expenses
housing $550
transportation $100
health insurance $0
cell phone $120
groceries $550
utilities $150
loans (credit cards, student loan) $120
savings $0
available funds ?????

Explanation:

Step1: Calculate Chloe's available funds

First, find total income: $2450 + 1800=4250$. Then find total expenses: $1250+550 + 130+680+250+400+650+200 = 4110$. Available funds = Total income - Total expenses, so $4250−4110 = 140$.

Step2: Calculate months for Chloe

Cost of remodeling is $6000$. Months needed = $\frac{6000}{140}\approx42.86$. Since we need whole - months, it will take 43 months.

Step3: Calculate Enrique's available funds

Total income: $900 + 700=1600$. Total expenses: $550+100+120+550+150+120 = 1590$. Available funds = $1600 - 1590=10$.

Step4: Calculate extra money for Enrique

Health - insurance cost is $100$ per month. Extra money needed = $100 - 10=90$.

Answer:

Chloe: 43 months
Enrique: $90$ more per month