Chapter 3- Budgeting. Fixed vs. variable expenses Fixed expense/cost Remain the same no matter how...
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Chapter 3- Budgeting
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Transcript of Chapter 3- Budgeting. Fixed vs. variable expenses Fixed expense/cost Remain the same no matter how...
![Page 1: Chapter 3- Budgeting. Fixed vs. variable expenses Fixed expense/cost Remain the same no matter how much you use of a service or consumer item Can change.](https://reader036.fdocuments.net/reader036/viewer/2022082820/5697bf821a28abf838c85d3d/html5/thumbnails/1.jpg)
Chapter 3- Budgeting
![Page 2: Chapter 3- Budgeting. Fixed vs. variable expenses Fixed expense/cost Remain the same no matter how much you use of a service or consumer item Can change.](https://reader036.fdocuments.net/reader036/viewer/2022082820/5697bf821a28abf838c85d3d/html5/thumbnails/2.jpg)
Fixed vs. variable expenses
Fixed expense/cost Remain the same no matter how much
you use of a service or consumer item Can change only very slightly and are
usually paid on a regular basis Examples?
Variable expense/cost change depending on your use of
products or services
![Page 3: Chapter 3- Budgeting. Fixed vs. variable expenses Fixed expense/cost Remain the same no matter how much you use of a service or consumer item Can change.](https://reader036.fdocuments.net/reader036/viewer/2022082820/5697bf821a28abf838c85d3d/html5/thumbnails/3.jpg)
Sample Budgets So many different
options: College Student Single Person-First
job Another option
Married- homeowners
Software to help, templates,
![Page 4: Chapter 3- Budgeting. Fixed vs. variable expenses Fixed expense/cost Remain the same no matter how much you use of a service or consumer item Can change.](https://reader036.fdocuments.net/reader036/viewer/2022082820/5697bf821a28abf838c85d3d/html5/thumbnails/4.jpg)
Largest components of budgets Housing
Mortgage/Rent What % of income
should you spend? Loans
Student Credit Cards Car
Insurance Home, Car, Life,
Health
![Page 5: Chapter 3- Budgeting. Fixed vs. variable expenses Fixed expense/cost Remain the same no matter how much you use of a service or consumer item Can change.](https://reader036.fdocuments.net/reader036/viewer/2022082820/5697bf821a28abf838c85d3d/html5/thumbnails/5.jpg)
Type of Mortgages
Length ARM vs. Fixed Rate Points Fannie Mae, Freddie Mac Sub-prime Lending Historical Rates vs. Current