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.
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 an eight-year-long goal fall under?
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Intermediate-term goals. Intermediate-term goals are those that are 5-10 years away.
3.
Your financial institutions may already offer some budgeting tools.
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True. Many financial institutions provide budgeting software that is accessible when you log in to your account online.
4.
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.
5.
A shirt is an example of a _______. A shirt with your favorite musician on it is a _______.
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Need / want. The shirt is a need because you need it to survive. But adding your favorite musician turns it into a want.