ScienceEconomicsBudgeting example #48903
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Budgeting example #48903

Zayne Williams avatar Zayne Williams
3 March 2023
4.6 (164 reviews)
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balanced budget
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a budget in which the amount spent is less than or equal to the amount taken in
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discretionary
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expenses that are optional
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invest
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to spend money or time on an asset, with the hopes that it will increase in value over time
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withholdings
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amounts removed from gross income to pay for taxes and other expenses
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Why should variable expenses appear below fixed expenses in a budget?
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They should be considered after fixed expenses.
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From what part of income should someone take savings?
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what otherwise would be discretionary income
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Short-term financial goals might include....
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....buying movie tickets.
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When creating a budget, log fixed expenses....
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....after income.
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To change gross income, someone would need to....
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....earn more money.
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When should monthly budgeted expenses be tracked?
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....at the start of each month.
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Paying for transportation to and from work is an example of....
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....a mandatory expense.
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In this budget, how much money must go to mandatory expenses?
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$35
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Why should someone plan variable expenses after fixed expenses?
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Fixed expenses are required and constant, but variable expenses are not required and are more flexible.
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When a person invests income, he or she....
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....spends income only on essential needs such as housing.