Using the information above in the sample budget, analyze the monthly spending and saving habits shown. In your answer you must include the following with your analysis:
(1) Do you see any potential variable expenses that could change the budget each month? If so, what are they? If not, why do you think this?
(2) With the leftover spending money each month, should this individual consider investing? If so, which investment option would be the best and why? If not, why do you think this?
(3) Consider the amount going to savings, what type of interest would provide the greatest benefit and why? How long would it take to earn $5.00 in interest if the rate is 1% monthly? Provide calculations to support your answer.