Chapter 6: Budget Review

Many young people on their first jobs make the mistake trying to buy too many luxury items

If Bob's car payment is $172 per month, his annual budget amount for car payments would b

Adjusting a budget will be easier if you attempt to change flexible exp rather than fixed exp

The life-span goals you set to affect your family, future family, and community

Which of the following would be considered a fixed expense?

Planning doc which you record expected & actual income and spending over a short time is a 

Which is a step in the budget process?

If you want to cut your spending, you'll have to start with your fixed expenses

Flexible expenses are amounts that you choose to spend or not to spend

If you spend $20 more for groceries ea wk than budgeted then you are "over" budget

John receives $10 per wk for allowance, $50 per wk from work. Total income for  month would be

When making a budget, your goals should be prioritized and ranked

Budgeting successfully depends on how well you set your financial

Stuffing all your receipts in a grocery bag is a good way to create an efficient filing system

A plan for dividing your income among spending and saving options is a 

Important things you hope to achieve in more than one year are 

Which of the following is not a luxury item?

A successful budget requires accurate record keeping

Fixed expenses are the amounts you have already committed to spend