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Basics Beginner: Budgeting Made Simple

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1.
What are some options if despite good faith efforts to make a budget work, you are still getting behind on your bills?
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Take on a side gig. This is an example of a hard choice that may be unavoidable.
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.
Budgeting for a major purchase has many advantages; one of them is that _______.
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You may be able to avoid the use of debt. Avoiding debt can save you a lot of money, as well as give you time to think over the purchase.
4.
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.
5.
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.