Creating a Personal Budget Answers

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21
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Mitch has created a budget that includes mortgage, food, car, and entertainment expenses. Which other expenses should he also include? Choose four correct answers.utilitiesout-of-pocket medical expensesgasincome from investmentssavings for his emergency fund

A
utilities
B
out-of-pocket medical expenses
C
gas
D
income from investments
E
savings for his emergency fund
23

The Porters’ food, clothing, and medical expenses are not fixed expenses. What do these expenses have in common?

A
They are expected to change from month to month.
B
They are expected to stay the same every month.
C
They are the three highest expenses every month.
D
They do not need to be included in the budget.
24

What is a common form of debt?

A
taxes
B
student loans
C
cell phone plans
D
monthly subscriptions

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