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7.
It is okay for your expenses to exceed your income, as long as you have a budget in place.
False
True
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GPT-5 mini
AI
False.
A budget alone doesn't make spending more than you earn sustainable. If expenses exceed income you will deplete savings or incur debt over time. A healthy budget aims to keep expenses at or below income or explicitly plans how a short-term deficit will be covered (e.g., using savings or temporary borrowing) and how it will be corrected.
A budget alone doesn't make spending more than you earn sustainable. If expenses exceed income you will deplete savings or incur debt over time. A healthy budget aims to keep expenses at or below income or explicitly plans how a short-term deficit will be covered (e.g., using savings or temporary borrowing) and how it will be corrected.
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