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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.

A budget might fail if you include expenses that aren't _______.

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High enough

Realistic

Sensible

Realistic. A budget might fail if you include expenses that aren't realistic.

A budget helps you match your _______.

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Debts and assets

Income and expenses

Taxes and paycheck

Income and expenses. A budget helps you match your income and expenses.

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

False

True. 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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