Budgets

What is the first sep to creating a successful budget?

• Note your Net Income

• Track your Spending

• Save Money

• None of the above

What is net income

• All the money you make for working.

• Your take home pay

• Youd deductions

• None of the above

What are three reasons why it is important to track your expenses

• To determine where to cut back

• Determine how much money you are spending

• Determine why you are spending

• All of the above

Which is not an example of fixed expenses

• entertainment

• house payment

• car payment

• utlitilies

Which is not an example of variable expenses

• groceries

• entertainment

• gas

• rent

What type of expenses are often easier to cut?

• fixed

• net

• variable

• none of the aboe

What is the minimum you should save?

• 5%

• 10%

• 20%

• 25%

What is step 3 of creating a budget

• Track your spending

• Save your money

• Set Goals

• None of these

What is step 4 of Creating a Budget

• Set Goals

• Save Money

• Note Net Income

• None of these

What is Step 5 of Creating a Budget

• Note your Net Income

• Track you Spending

• Keep Track, Adjust and Cut Expenses

• None of These