12
AssignmentMultiple Select

Budgeting and Being a Smart Consumer

Question 12 • Personal Finance - EL3403

You have included your predicted mortgage, food, car, and gasoline expenses in your budget. Are there any expenses you have forgotten? Choose all that should be included in your budget.

Answer
A
utilities
B
out-of-pocket medical expenses
C
entertainment
D
income from investments
E
savings for your emergency fund

Explanation

A complete budget should include regular bills and other planned uses of money, not just housing, food, and transportation. Utilities, out-of-pocket medical costs, entertainment, and contributions to an emergency fund are all expenses or savings goals to plan for. Income from investments is money coming in, not an expense, so it should not be selected.

AI-written and checked against the verified answer.

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