Bellringer 9/25

What percentage of income is typically allocated to "wants" in the 50/30/20 budgeting method?

• 50%

• 30%

• 20%

• 10%

Which budgeting method adjusts the previous budget when income or expenses change, like when you get a raise?

• Zero-based budgeting

• Envelope budgeting

• Incremental budgeting

What is the primary characteristic of the "paying yourself first" budgeting method?

• Allocating funds to different spending categories using physical cash envelopes.

• Prioritizing saving for a specific goal before allocating funds to other expenses.

• Creating a new budget from scratch each period.

When might an individual need to utilize zero-based budgeting?

• When they receive a small raise and need to adjust a few categories.

• When they want to save for a specific large purchase.

• When they experience a major change in their financial situation.

What did you learn from today's bellringer?