Question
Budgeting Basics Bring Em On! Income, Deductions, and Benefits Fixed Expenses Variable Expenses Savings Name three possible sources of income (3 pts) Name Three Common
Budgeting Basics Bring Em On!
| Income, Deductions, and Benefits | Fixed Expenses | Variable Expenses | Savings |
| Name three possible sources of income (3 pts)
| Name Three Common Fixed Expenses. (3 pts) | What are two types of variable expenses? (2 pts) | What are three common reason to save money? (3 pts) |
| Lecia in an employee at a local coffee shop. Name two benefits her employer may provide to Lecia and her co-workers. (2 pts) | Nick is a post-secondary student. What will most likely be his highest fixed expense? (1 pts) | Alex commutes into the city for his post-secondary education. Name five variable expense categories that you are likely to find on Alexs post secondary school budget. (5 pts) | Robynn is in a 30-week carpentry certificate program and also holds a part-time job which provides a net salary of $400 every two weeks. How much will Robynns net salary be during her certificate program? (2 pts)
|
| Name three deductions which will be made from Lecias wages by her employer which will be remitted to the federal government. (3 pts)
| How much should Nick budget for housing per month if he is equally renting a home with three others that costs $24,000 a year to rent? (2 pts) | How much should Alex set aside each month to pay for his annual vehicle registration of $950 and drivers license of $25? (2 pts) | If Robynn wishes to save 5% of her take-home pay for a summer camping trip, how much must she put into saving each pay period? (2 pts) |
| Lecia earns a gross income of $1,500 per month. What is her net income if her tax and other employer deductions are 15% (1 pts) | Having completed his degree, Nick now has a $24,000 interest free loan to repay over five years. How much will his monthly payment be? (2 pts) | Alex has an income of $15,750 to pay for his eight month diploma program. How much would be budget per month for health and dental costs if he wants to set aside 3 % of his income for his expense? (2 pts)
| If Robynn wants to save $450 what percentage of her take -home pay will be going into savings (2 pts) |
Exit Slip
3 things I leaned about budgeting
2 questions I now have about budgeting
1 reason why I think budgeting is important
i need this fast please:)
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
