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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

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.

What kinds of expenses should you include in a budget?

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Only the expenses you incur regularly

Only the expenses related to housing, food and your car

All of your expenses

All of your expenses. When you create a budget, you should be as inclusive of your expenses as possible.

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.

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.

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