Budgeting

Question 1

To create a balanced budget, one must make sure to

Revolt · Accepted Answer

spend less than or equal to income.

Question 2

When a person invests income, he or she

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

Question 3

To change gross income, someone would need to

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earn more money.

Question 4

From what part of income should someone take savings?

Revolt · Accepted Answer

what otherwise would be discretionary income

Question 5

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

Revolt · Accepted Answer

at the start of each month

Question 6

A short-term financial goal might include saving for

Revolt · Accepted Answer

a piece of furniture.

Question 7

Why is net income lower than gross income?

Revolt · Accepted Answer

withholdings

Question 8

What effect would a tax increase have on income?

Revolt · Accepted Answer

It would not affect gross income.

Question 9

best

Revolt · Accepted Answer

Save more money from net income.

Question 10

Which is an example of an income deduction?

Revolt · Accepted Answer

retirement savings

Budgeting Answers