Personal Finance - CH02: Budgeting Basics [Open Qs]

List the Four Walls. What priority are those in your budget?

Explain the difference between a fixed expense and a variable expense, and include an example of each.

What are some key components of successful budgeting?

Describe irregular income and give examples.

What makes a budget a zero-based budget?

What's an example of an unexpected expense that may occur? How would you adjust your budget to ensure that you don't overspend that month?

Explain cash-flow statements. How do they work and what specifically do they how you? Give examples of how a cash flow statement will help you adjust your budget for the following month.