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Basics Beginner: Budgeting Made Simple

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1.
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.
2.
The first step in financing a major purchase is to ________.
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Establish a household budget. That way, you can see how and where the planned purchase can be fit into your overall financial picture.
3.
A budget helps you match your _______.
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Income and expenses. A budget helps you match your income and expenses.
4.
Budgets can be easily revised by adding and subtracting expenses or income and adjusting amounts associated with specific income and expenses.
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True. Budgets can be easily revised by adding and subtracting expenses or income and adjusting amounts associated with specific income and expenses.
5.
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.