Basics Beginner: Budgeting Made Simple

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1.
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.
2.
If you have irregular income, sticking to a budget is impossible.
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False. If you have irregular income, it is very possible to stick to a budget
3.
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.
4.
What is one kind of financial need?
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Groceries. Groceries are one kind of financial need.
5.
Wealthy people don't need budgets.
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False. Wealthy people can overspend just as easily as people in other income groups, so they can benefit just as much from a budget.