Shark 3 Review BOGO and Stocks

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What is a Need in budgeting?

Back

A Need is an expense that is essential and cannot be cut from your budget to save money.

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What is a Fixed Expense?

Back

A Fixed Expense is an expense that is the same amount every month and cannot easily be changed, such as rent or daycare fees.

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What is a Variable Expense?

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A Variable Expense is an expense that can change in amount from month to month, such as groceries or entertainment.

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What is a Discretionary Expense?

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A Discretionary Expense is a non-essential expense that can be adjusted or eliminated, such as dining out or luxury items.

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How do you calculate profit from stock sales?

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Profit is calculated by subtracting the purchase price from the selling price of the stock.

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If I buy a stock at $17 a share and sell it at $86 a share, what is my profit?

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$69

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What does it mean if a stock loses more than 2/3 of its value?

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It means the stock's value has decreased significantly, indicating a poor performance.

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What is the difference between Income and Expenses?

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Income is the money received, while Expenses are the costs incurred.

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What is a Budget?

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

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What is the significance of understanding Fixed and Variable Expenses?

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Understanding these helps in effective budgeting and financial planning.