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Basics Beginner: Budgeting Made Simple

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1.
The first step in financing a major purchase is to ________.
Choose wisely. There is only one correct answer.
Establish a household budget. That way, you can see how and where the planned purchase can be fit into your overall financial picture.
2.
What kinds of expenses should you include in a budget?
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All of your expenses. When you create a budget, you should be as inclusive of your expenses as possible.
3.
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.
4.
What is one way to gather accurate information about your income to include in a budget?
Choose wisely. There is only one correct answer.
Looking at your paystub. Looking at your paystub is one way to gather accurate information about your income to include in a budget.
5.
What is one kind of financial need?
Choose wisely. There is only one correct answer.
Groceries. Groceries are one kind of financial need.