Variable Expenses & Unit Rates

Robert is working on his first budget with fixed and variable expenses. What is the combined percent of all his FIXED expenses each month? (count utilities as a fixed expense)

• 27%

• 55%

• 60%

• 73%

Robert is working on his first budget with fixed and variable expenses and wants to save 10% of his entire budget of $2500 for retirement. How much money would he be saving each month if he saved 10%?

• $250

• $25

• $10

• None - he won't save anything

True or false: a paycheck from a job is a fixed expense.

• true

• false

Your friend’s parents are worried about going over their budget for the month. Which expense would you suggest is NOT a need?

• rent payment

• car insurance

• cable service

• groceries

Which of the following is a variable expense for many adults?

• Their monthly cost of eating out at restaurants

• Their monthly rent payment

• The monthly payment on their car loan

• Their monthly payment for health insurance

Which of the following would be considered a want rather than a need for most people?

• Warm clothes in the winter

• a place to live

• a smartphone

• nutritional food

If you know the unit price of an item, you are better able to:

• Compare prices of two brands

• Estimate how much you will need

• Determine the total cost of the purchase

• Figure out the discount during a sale

Which of the following expenses should be included in a typical budget?

• taxes

• charitable giving - charities

• savings

• All of the expenses should be included in a typical budget

Robert is working on his first budget with fixed and variable expenses. What is the combined percent of his car payment and gas each month?

• 9%

• 13%

• 18%

• $450

If the Moore's monthly income is $5,000 what amount of their budget is spent on miscellaneous expenses?

• $2,000
• $.08
• $200
• $4