Budgeting Assignment - Minor

Which of these expenses is an example of a variable expense?

• Rent

• Insurance

• Car Payment

• 
  Entertainment

The mortgage payment (housing) and the car payment (transportation) are examples of ...

• Variable Expenses

• 
  Budgeting

• Fixed Expenses

• Assets

Julie budgets $600 of expenses each month. What percent of her budget does she spend on her car?

• 
  10%

• 50%

• 25%

• 25%

This is Julie's monthly budget. How much money does she budget for expenses each month?

• $600

• $300

• $90

• $80

What percent of their budget does the Hernandez family spend on taxes?

• 
  5%

• 50%

• 10%

• 
  500%

Which expense makes up 20% of the Hernandez family's monthly budget?

• Mortgage

• 
  Entertainment

• Utilities

• Retirement Savings

If a family has a $5000 monthly budget and they want to spend exactly 30% of their budget on housing, which city will they choose to live in?

• Austin

• Dallas

• Houston

• 
  San Antonio

Clothes, food, and other make up what percent of this monthly budget?

• 50%

• 20%

• 25%

• 15%

In Oscar's monthly budget, each category is assigned a certain percentage of his monthly income. Oscar's monthly income is $2,250. Which statement is NOT supported by the information in the table?

• Oscar puts $360 of his monthly income into savings.

• Less than $900 of Oscar's monthly income is for his house payment and life insurance.

• Oscar budgets $485 of his monthly income for telephone, utilities, and emergencies.

• More than $530 of Oscar's monthly income is for his car payment abd car insurance.

Felicia earns $800 a month. The table shows her monthly budget. Which statement is supported by the information in the table?

• Felicia spends 10% of her monthly budget on clothes and food.

• Felicia spends 24% of her monthly budget on her car payment.

• Felicia spends 20% of her monthly budget on college savings.

• Felicia spends 50% of her monthly budget on her car payment and cell phone.