Budgeting

Question 1

Look at this monthly budget.Monthly Budget

Revolt · Accepted Answer

$20

Question 2

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 3

When a person invests income, he or she

Revolt · Accepted Answer

uses money in a way that will increase its value in the future.

Question 4

What type of expense is an example of the cost to drive to and from work?

Revolt · Accepted Answer

a variable expense.

Question 5

To change gross income, someone would need to

Revolt · Accepted Answer

earn more money.

Question 6

A short-term financial goal might include saving for

Revolt · Accepted Answer

a piece of furniture.

Question 7

variablefixeduncertain

Revolt · Accepted Answer

fixed

Question 8

When should fixed and variable monthly budgeted expenses first be planned?

Revolt · Accepted Answer

at the start of each month

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

What effect would a tax increase have on income?

Revolt · Accepted Answer

It would not affect gross income.

Budgeting Answers