Excel and Budget 2

____________ an amount of money that you have not spent, or an amount of something that you have not used.

_______________ is the process of creating a plan to spend your money.

Your monthly net income is $3,200. How much money can you spend on wants? (30%)

Which of the following is NOT a common budgeting strategy?

• Creating a savings plan

• Ensuring expenses are greater than income

• Separating needs from wants

• Establishing an emergency fund

In which category should you have to make the most cuts in the budget?

• Savings

• Variable/Flexible Expenses

• Fixed Expenses

• Emergency Fund

In order to control his budget, Josh should cut spending in which of the following categories?

• Food/Entertainment

• Rent/Mortgage

• Savings/Emergency Fund

• Car/Insurance

Which of the following costs is; Rent?

• Fixed Cost

• Variable/ Flexible Cost

• Discretionary Cost

Which of the following costs is; utilities

• Fixed Cost

• Variable/ Flexible Cost

• Discretionary Cost

Which of the following costs is; Groceries

• Fixed Cost

• Variable/ Flexible Cost

• Discretionary Cost

Columns in a spreadsheet are:

• Vertical
• Horizontal
• Upside down
• right side