Housing, Transportation , and Food Budgets and Wages

Front

What are the main costs associated with owning a car?

Back

The costs include the purchase price, insurance, maintenance, fuel, registration, and depreciation.

Front

How do you calculate weekly pay from hourly wage?

Back

Multiply the hourly wage by the number of hours worked in a week.

Front

What percentage of income is typically recommended to spend on rent?

Back

It is generally recommended to spend no more than 30% of your income on rent.

Front

What is gross pay?

Back

Gross pay is the total amount of money earned before any deductions such as taxes and insurance.

Front

How do you convert annual salary to monthly income?

Back

Divide the annual salary by 12.

Front

What is a budget?

Back

A budget is a plan that outlines expected income and expenses over a specific period.

Front

What are fixed expenses?

Back

Fixed expenses are costs that do not change from month to month, such as rent or mortgage payments.

Front

What are variable expenses?

Back

Variable expenses are costs that can fluctuate, such as groceries and entertainment.

Front

What is the purpose of a transportation budget?

Back

To plan and manage the costs associated with commuting and travel.

Front

How do you calculate the percentage of income spent on utilities?

Back

Divide the total amount spent on utilities by total income and multiply by 100.