How to Set Up a Budget (fixed and variable expenses)

Where do you start when creating a budget?

• Shopping online

• Setting a goal

• Not spending

• Shopping in person

You must build your budget based on your:

• Net Income

• Salary

• Taxes

• Savings

Examples of Fixed Expenses (select all that apply)

• savings (safety net)

• insurance

• rent or mortgage payment

• loan payment

Examples of Variable Expenses (select all that apply)

• Car payment

• Entertainment

• Utility bills (electricity, water)

• Groceries

What is step 6 when creating a budget? (respond in all lower case letters)

In conclusion, what is a budget?

• It's a plan that allows you to spend all you want

• It's a plan that allows you to lose weight

• It's a plan that allows you to reach a financial goal

• It's a plan that allows you to pass all your classes