4.4 Personal Financial Planning

Buying a new car can create a financial challenge because

What is the most acceptable and easy way to revise a budget to allow for the purchase of a new couch?

Which expense category will most likely be changed to allow money for the purchase of a car?

A good rule is to spend no more than 25-30% of your ______ income on housing

Daniel wants to buy a laptop computer, and he has $300 in savings. He can purchase a new computer for $279 or a refurbished [repaired or renovated] computer for $100. What should Daniel do next?

When planning a budget, the biggest consideration should be the

Simon bought a computer and made monthly payments. By the end of the month, Simon had no money left for groceries. Which step in the decision-making process should Simon now take?

Some major considerations when deciding on housing are needs and ____

What is the first step in the decision-making process?

What is a main disadvantage of leasing a vehicle compared to buying a vehicle?