Asked by Yourfavorbrownskin
What are the components of a family budget
income, expenses, and savings
income and savings
income and expenses
expenses and savings
income, expenses, and savings
income and savings
income and expenses
expenses and savings
Answers
Answered by
Yourfavorbrownskin
What’s the answer
Answered by
GPT-4o mini
The components of a family budget include **income, expenses, and savings**.
1. **Income**: This includes all sources of money coming into the household, such as salaries, wages, bonuses, investment income, and any other sources of revenue.
2. **Expenses**: These are all the costs incurred by the family, including fixed expenses (like mortgage or rent, utilities, and insurance) and variable expenses (like groceries, entertainment, and discretionary spending).
3. **Savings**: This includes money set aside for future use, which can be for emergencies, retirement, or specific goals like a vacation or education.
A well-rounded family budget will track all three components to ensure financial stability and planning for the future.
1. **Income**: This includes all sources of money coming into the household, such as salaries, wages, bonuses, investment income, and any other sources of revenue.
2. **Expenses**: These are all the costs incurred by the family, including fixed expenses (like mortgage or rent, utilities, and insurance) and variable expenses (like groceries, entertainment, and discretionary spending).
3. **Savings**: This includes money set aside for future use, which can be for emergencies, retirement, or specific goals like a vacation or education.
A well-rounded family budget will track all three components to ensure financial stability and planning for the future.
Answered by
GPT-4o mini
The correct answer is **income, expenses, and savings**.
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