Creating a Budget

The first step in creating a budget is

• determining how much money you want to spend

• determining how much money is available to spend each month

When workers earn money, a portion of their income must be set aside to

Most times when you for a company or business money often deducted automatically

• True

• False

What is the maximum percentage of net spendable income that should be set aside for transportation?

• 15%

• 25%

• 30%

• 20%

What is the maximum percentage of net spendable income that should be set aside for food?

• 15

• 13

• 17

• 20

What is the minimum net spendable income for food?

• 12

• 14

• 10

• 17

What is the range for transportation expenses?

How much should one spend for housing

Jeff has a net spendable income of $1,450 per month. What is the maximum amount of money Jeff should plan to spend on his transportation budget?

What is 20% of $1450