The amount of money Wesley will have after paying these bills each month is $2,004 which means he will be able to save $2,004 after subtracting his expenses from his earnings by creating a personal budget.
Expenses of Wesley:
Phone/Cable/Internet service = 190
Electric Bill = 318
Health Insurance Premium = 288
Total Expenses = 190+318+288 = 796
Earnings of Wesley = 2,800
Savings of Wesley = Total Earnings - Total Expenses =2,800 - 796 = 2,004
Hence Wesley will have $2,004 after paying the above said bills in a month.
A personal budget, or household budget, simply tracks a household’s money in versus money out. Though a budget is accustomed help a personal or family spend less and save more, it is, at its most elementary, a planning and tracking tool.
Budgeting is all about being intentional with the ways you spend money, and planning ahead to assist make sure you don’t run into any inconvenient – or, potentially, financially ruinous – surprises before you receive your next paycheck. This planning ahead also means you'll save cash for future goals and determine exactly how long it'll take you to succeed in them.
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