2. How to Manage Your Money
What is a budget defined as in the essay?
- A way to spend more money
- The practice of gathering your income and expenses to help you track your spending
- A government tax form
- A type of bank account
Which of the following is NOT mentioned as a monthly expense in the essay?
- Food and clothing
- Utilities and transportation
- Entertainment and phones
- Vacation travel
Why is it a good idea to save a portion of your monthly income?
- To buy luxury items
- To have savings for unexpected expenses that come up
- To avoid paying taxes
- To impress your friends
What can a budget help you identify?
- Whether you are living within your budget
- Your favorite restaurants
- Your neighbors' income
- The best vacation spots
If you have more expenses than income, what does the essay suggest doing?
- Ignore the problem
- Borrow money from friends
- Use a budget to see where you can cut corners
- Stop paying rent