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BUDGETING TUTORIAL

Answer the following questions as a review on Budget.


1.   Net income is also known as:
a. Taxable income
b. Alimony
c. What's left after you pay your bills
d. Take-home pay

2.   Which of the following apply to variable expenses?
a. Take place on a regular basis
b. Consistent and predictable
c. The amounts change
d. All of the above

3.   About how much of your monthly take-home pay should your       car payment not exceed after subtracting certain monthly       expenses, like credit cards?
a. 5% to 10%
b. 10% to 15%
c. 15% to 20%
d. 20% to 25%

4.   In addition to vehicle payment, what other vehicle expenses       should be considered in your monthly budget?
a. Insurance
b. Maintenance
c. Gasoline
d. All of the above

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