Budgeting and Expense Management (Business Chapter 2)

University:
California State University, Northridge
Course:
FIN 302 | Personal Finance
Academic year:

2022
Views:

51

Pages:

1
Author:

kundgetanufv

business ch2 Question Taxes and withholdings impact your ____ ______, the money you take home from your paycheck. The cost of groceries and gas is considered a _______ _______ To budget with an _______ _____, prioritize expenses from most to least important so your most important so your most important expenses are covered first A _________ _________ needs to be evaluated in light of your other expenses for the month A ________ ______ stays the same from month to month A ____ ______ _______ should account for fixed, variable, intermittent, and discretionary expenses based on income A budget doesn’t tell you to spend. A budget actually The envelope system is beneficial for expenses like The 3 priorities in your budget, after listing income, are Specific categories are important to consider when creating a budget so you can What’s it called when you make money on the percentage of the total sales you make? Which of the following is not a type of discretionary expense? What's your biggest wealth-building tool? If you approach money with a generous spirit, you‘ll be: A zero-based budget is when income minus expenses (giving, saving, and spending) equals How often should you budget? What's rent an example of? The best way to budget is Can you budget with an irregular income? Budgeting helps how? The envelope system is Irregular income fluctuates from month to month. Ex: commissionbased jobs, seasonal/retails jobs, or a grass cutting business Answer New income Variable expense Irregular income Discretionary expense Fixed expense Zero-based budget permits you to spend Food, gas, entertainment, and shopping giving, saving, spending Break down your income and spending Commission Depreciation Income More grateful zero Every month Fixed expense the best way that works for you. yes Budgeting gives you control of your money and sets you up for future financial success. a method that uses envelopes labeled with specific budget categories for your cash true