Personal Finance Courses: Budgeting

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1.
When constructing a budget, where can you find information about your expenses?
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Bank statements, online banking, and credit card statement. Bank statements, online banking transactions, and credit cards all detail your spending transactions. Use these tools to create a written record of your expenses.
2.
All online budgeting tools cost money.
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False. Many of them are free to use.
3.
Net income equals gross income minus _______.
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All payroll deductions including taxes withheld. This is the amount you have left to save and spend.
4.
Which of the following is an example of a fixed expense?
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Your cable bill. Your cable bill is likely to be the same amount each month, and it occurs over and over again regularly. Therefore, it is fixed.
5.
In your budget's savings plan section, you will have short-term goals, intermediate-term goals, and long-term goals to save for. Which of these would a retirement plan fall under?
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Long-term goals. A retirement plan is generally more than 10 years away, so it is a long-term goal.