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A budget never changes.

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True

False

False. A budget is a living document that changes over time and needs to be adjusted as income, expenses and circumstances change.

If you have irregular income, sticking to a budget is impossible.

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True

False

False. If you have irregular income, it is very possible to stick to a budget

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

You will always get a lower price by budgeting

Both of the above

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.

When you budget, you try to match your _______.

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Income with your expenses

Income with your neighbor's income

Expenses with your future income

Income with your expenses. When you budget, you try to match your income with your expenses.

What is one way to gather accurate information about your income to include in a budget?

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Looking at your paystub

Estimating what you might make next year

Adding in a bonus you hope you'll get later in the year

Looking at your paystub. Looking at your paystub is one way to gather accurate information about your income to include in a budget.

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