Bill Is a College Freshman Living Off Campus in His

Essay

Bill is a college freshman living off campus in his own apartment.He lives close enough to the campus to ride his bike and takes the bus to get to his job.He has transferred his gym membership to the facility near his school.He has a credit card; however, he does not use it.He has created a budget as follows:
Monthly Expenses:
Tuition is paid by loan directly.
Books $100
Rent $550
Utilities/cell $250
Transportation $30
Laundry $30
Food/household items $500
Entertainment $200
Health/Fitness $40
Total: $1,700
Monthly Income:
Summer Savings $350
Loan $800
Job (after taxes) $600
Total: $1,700
Based on what you have read about managing financial resources, what are some strengths and weaknesses you see in Bill's financial management? What should be Bill's financial goal? What recommendations would you make for him to reach this goal? Use specifics from the chapter to support your recommendations.