Why might variable expenses change a great deal at different times of year?
answer
Heating and cooling costs might vary considerably.
question
A short-term financial goal might include saving for
answer
a piece of furniture
question
To create a balanced budget, one must make sure to
answer
spend less than or equal to income.
question
Look at this monthly budget.
Monthly Budget
What is the simplest change that can be made to the budget to produce more savings next month?
answer
Decrease food expenses.
question
From what part of income should someone take savings?
answer
what otherwise would be discretionary income
question
An expense that is constant each month is called a expense.
answer
fixed
question
Which is an example of an income deduction?
answer
NOT an unexpected salary cut
question
What effect would a tax increase have on income?
answer
It would not affect gross income.
question
Look at this monthly budget.
Monthly Budget
Next month, Tokuji's monthly net income will increase to $650. If he increases his savings to $110 a month, how much can he increase his discretionary spending?
answer
$20
question
Why is net income lower than gross income?
answer
withholdings
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