Nonessential spending includes expenses such as:A.paying interest on loans.B.buying health insurance.C.going to the movies.D.paying federal taxes.

For teen budget planning, which expense is usually considered a fixed expense?a) Eating out b) Movie tickets c) Monthly phone bill d) Buying clothes

Which of the following is an example of a fixed expense you need to include in your budget?EntertainmentFoodGasRent

Mandatory spending refers to programs in the U.S. federal budget that:A.must receive a certain level of funding by law.B.can only be funded in periods of economic recession.C.have funding levels controlled by Congress.D.are funded by states rather than the federal government.

Social security, Medicare and Medicaid are included in what expenditures?Select one:a.interest expenseb.none of the choicesc.mandatory spending and social safety netsd.discretionary spending

What is the primary purpose of creating a budget?a) To track spending habits only b) To determine your net worth c) To plan and control your income and expenses d) To invest in the stock market