Intro to Budgeting
Bills, Habits, Surprises, and Goals
So how does budgeting work?
You start by figuring out how much you’re earning after paying taxes, then you estimate your realistic expenses—and make sure that you have something left to save toward your longer term financial goals.
Which of the following is a false statement regarding budgeting for Surprise expenses?
You should budget for Surprises even though they may not happen regularly
You may need to borrow money if you haven’t budgeted for a few Surprise expenses each year
You don’t have to budget for Surprises since they are unplanned in the first place
They can pop up at the wrong time
What are the three types of outflows you need to consider when creating your budget?
Credit cards, debit cards, and pre-paid cards
Bills, credit cards, and debit cards
Bills, habits, and surprises