Budgeting

Question 1

From what part of income should someone take savings?

Revolt · Accepted Answer

what otherwise would be discretionary income

Question 2

A short-term financial goal might include saving for

Revolt · Accepted Answer

a piece of furniture.

Question 3

To change gross income, someone would need to

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earn more money.

Question 4

Mindy wants to save money to buy a new couch.Which would be the best strategy for her to accomplish her goal?

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forgo watching movies online or in the theater

Question 5

Look at this monthly budget.Monthly Budget

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Decrease food expenses.

Question 6

When creating a budget, log fixed expenses

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after income.

Question 7

In order to stay on track for long term financial goals, money for emergency spending should be taken first from your

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discretionary money.

Question 8

Kerry knows that a new car is in her future.Which would be the best strategy to help her accomplish this goal?

Revolt · Accepted Answer

contribute to a savings account

Question 9

Why might variable expenses change a great deal at different times of year?

Revolt · Accepted Answer

Heating and cooling costs might vary considerably.

Question 10

Leo’s car broke down, and he must find money in his limited budget to pay the repair bill.Which of the following is the best solution for Leo to handle the unplanned spending?

Revolt · Accepted Answer

Leo forgoes going out to dinner.

Budgeting Answers

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