4
QuizMultiple Choice

Budgeting and Being a Smart Consumer(CFA1)

Question 4 • General Financial Literacy - Brinkerhoff - 2000 - 2026/27

Shondra’s family’s monthly net income is $6,654. The family’s budget is shown in the circle graph below. The family decides to increase the savings budget by 3 percent by decreasing one of the variable expenses by 3 percent.If the family decreases the clothing budget by 3 percent, what amount will it have to spend on clothing? Round to the nearest dollar.

Question illustration
Answer
A
$266
B
$466
C
$645
D
$665
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