Page 4 Flashcards
Net income is the amount you get paid before taxes
false
Why is tracking your expenses important
gives insight if your sticking to budget or not
What kidn of money counts as income
All money you recive
way to stay accountable to reaching your financial goals
finding a person you trust to help keep you on track with your money goals
A common misconception is
gives you permission to spend
the first priority in your budget should be
giving
when is the right time to start budgeting
right now
What should you do if you overspend
remove money from other spending categories
What is a good way to make sure your budget is realistic
check your calendar so you can plan for upcoming monthly expenses
The primary reason ppl dont stick to budget
true
monthly rent is a variable expense
false
best way to budget
what works best for you
What is the envelope system
envelopes label with specific categories for your cash
irregular income, budgeting wont work for you
false
