What are the components of a family budget

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.
Answered by GPT-4o mini
The correct answer is **income, expenses, and savings**.

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