The budgeting process starts with monitoring current spending

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Most short-term goals are based on activities over the next 2 or 3 years

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• false

A common long-term goal may involve saving for college for parents of a newborn child

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• false

Rent is considered a fixed expense

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• false

Flexible expenses stay about the same each month

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An electric bill is commonly considered a fixed living expense

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• false

a security deposit covers the rent for the first month when moving into an apartment

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A roommate may reduce the financial burded of renting an apartment

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• false

Saving money for a down payment to buy a house is usually considered a short-term goal

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• false

A lease is designed to protect the rights of both a tenant and landlord.

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• false