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Basics Beginner: Budgeting Made Simple

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1.
A major purchase is a _______ expense.
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Variable. It is variable because you don't normally buy it on a regular basis.
2.
A budget never changes.
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False. A budget is a living document that changes over time and needs to be adjusted as income, expenses and circumstances change.
3.
When you budget, you try to match your _______.
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Income with your expenses. When you budget, you try to match your income with your expenses.
4.
A budget might fail if you include expenses that aren't _______.
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Realistic. A budget might fail if you include expenses that aren't realistic.
5.
What is one way to gather accurate information about your income to include in a budget?
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Looking at your paystub. Looking at your paystub is one way to gather accurate information about your income to include in a budget.