Case Study: Personal Financial Planning Quiz (answered correctly)

Case Study: Personal Financial Planning Quiz (answered correctly) When making a decision about housing, the first step should be - Correct Answer gathering information on available housing. When revising a budget, it is important to make choices that allow you to continue _________ money. - Correct Answer saving When planning a budget, the biggest consideration should be the - Correct Answer the total income available to spend. A good rule is to spend no more than 25-30% of your ______ income on housing. - Correct Answer gross Which expense category will most likely be changed to allow money for the purchase of a car? - Correct Answer entertainment Daniel wants to buy a laptop computer, and he has $300 in savings. He can purchase a new computer for $279 or a refurbished [repaired or renovated] computer for $100. What should Daniel do next? - Correct Answer Review the pros and cons of the different available computers. What is the most acceptable and easy way to revise a budget to allow for the purchase of a new couch? - Correct Answer Cook dinners at home instead of going out to eat. Which budgeting questions should Sara ask when deciding whether to rent or buy a house? Check all that apply. - Correct Answer How much can I afford to pay each month? What are the advantages of buying or renting? Do I have enough money saved for a down payment? Buying a new car can create a financial challenge because - Correct Answer car payments must become part of the budget.