• Assets
• Essential expenses
• Personal income
• Loans
Which of these is NOT an example of income? (1 point)
• Mortgage
Interest earned
• Salary
Monetary gifts
Which statement is true of a household budget? (1 point)
• Essential expenses should be reduced.
• Interest should not be calculated as income
• Income should be more than expenses.
• Variable expenses should be removed.
Which statement describes a variable expense? (1 point)
• Chrystal pays $120 each month for access to high-speed internet at her house
• Gemma's mortgage payment is exactly $784.56 every month.
• John makes an $89 payment each month on his new mobile phone
• Mia's electricity bill total depends on how much electricity she uses each month.
Why is it important to save money? (1 point)
• If you have money in savings, you won't be charged interest on your loans.
If you save money now, you will have multiple bankruptcy options in the future
Saving money allows you to pay for expensive goods and services in the future.
• Saving money is a requirement once you start earning a regular salary.
1 answer
Here are the answers to your questions:
Groceries and rent are examples of...
Which of these is NOT an example of income?
Which statement is true of a household budget?
Which statement describes a variable expense?
Why is it important to save money?
