Suppose you have a job that brings in $1,150 a month after taxes. you contribute $350 towards rent and utilities each month for an apartment you share with two other people. you put $100 each month into a savings account, and you spend about $50 per month for a cell phone. of course, you also eat, wear clothes, and go out with friends. you want to buy a car that will cost $300 per month for payments and insurance. can you afford it? plan a budget to see if you can take on this new fixed expense.