what are the main purposes of a budget?
to record the past income and spending
. to take a it a student loan from the bank. to plan future income and spending. to apply for a mortgage. to balance available resources and expenses.
Did Dan stay on budget this month why or why not yes Dan spent as much as he earned?
Yes, Dan spent as much as he earned
.
Which would be most helpful considering a large expenditure that might require repeating payments select three options?
Which would be most helpful considering a large expenditure that might require repeating payments select three options? Answer.
Careful consideration of short-term goals Recording income and spending over the past year Creating a budget to consider future income
and spending These are the three options chosen.
Which is the best way to achieve long term financial goals?
Which is the best way to achieve long-term financial goals?
Save more money from net income
.
What is included in an individual's personal assets select 3 options?
The options are:
Money, Property and Investments
.
What is the 50 20 30 budget rule?
The 50-20-30 rule is a money management technique that divides your paycheck into three categories:
50% for the essentials
, 20% for savings and 30% for everything else. 50% for essentials: Rent and other housing costs, groceries, gas, etc.
What are the three types of expenses?
Fixed expenses, variable expenses, and irregular expenses
are the three categories that make up your budget, and are vitally important when learning to manage your money properly. When you've committed to following a budget, you must know how to put your plan into action.
How can I live on $500 a month after bills?
- Take cold showers. …
- Get rid of your car. …
- Stop using a fridge. …
- Replace your house with an RV. …
- Bake cookies in your car. …
- Reuse plastic sandwich bags. …
- Turn your car off—while it's still moving. …
- Make your own cleaning supplies.
What are long-term financial goals examples?
- Retirement fund.
- Paying off a mortgage.
- Starting a business.
- Saving for a child's college tuition.
What are financial goals examples?
- Improve your financial literacy.
- Create a budget.
- Save for retirement and other long-term plans.
- Save for short-term and mid-term plans.
- Pay off debt.
- Build good credit.
- Make more money.
- Create an estate plan.
What is a good short-term financial goal?
The Takeaway
Short-term financial goals are the things you want to do with your money within the next few months or years. Some key short-term goals include
setting a budget, starting an emergency fund, and paying off debt
.
What is included in an individual's personal assets?
Assets include the value of securities and funds held in checking or savings accounts,
retirement account balances, trading accounts
, and real estate. Liabilities include any debts the individual may have including personal loans, credit cards, student loans, unpaid taxes, and mortgages.
What questions should she ask before she makes the purchase?
What questions should she ask before she makes the purchase? Do I need this car or should I use my old car a little longer? Is this a reliable vehicle? Will buying this car prevent me from saving money to buy a house?
Which choice best describes the money remaining after an individual has paid for all necessities?
Discretionary income
is money left over after a person pays their taxes and essential goods and services like housing and food.
What is the 70/30 rule?
The 70% / 30% rule in finance helps many to spend, save and invest in the long run. The rule is simple –
take your monthly take-home income and divide it by 70% for expenses, 20% savings, debt, and 10% charity or investment, retirement
.
What is the 70 20 10 Rule money?
Both 70-20-10 and 50-30-20 are elementary percentage breakdowns for spending, saving, and sharing money. Using the 70-20-10 rule,
every month a person would spend only 70% of the money they earn, save 20%, and then they would donate 10%
.
