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.
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.
5.
When creating a budget, you should gather information associated with _______ of your expenses.
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All. When creating a budget, its important to gather information associated with all of your expenses.