Question

1. going to the movies is an example of what types of expenses?

intermittent and variable
discretionary and variable
discretionary and fixed
intermittent and fixed

1. online budgeting apps are more effective than budgeting with pen and paper.

true
false

1. what is a way to stay accountable to reaching your financial goals?

finding a person you trust to help keep you on track with your money goals
hiring a financial advisor to make your decisions about money for you
looking at the budget you set at the end of the month
creating specific categories in your budget

1. how many categories should you have in your budget?

15 or more
no more than 10
at least 3
no limit; use as many as you need to keep your budget accurate!

Explanation:

1. Discretionary expenses are non - essential and variable as the amount spent on going to the movies can change (e.g., different ticket prices, buying snacks or not).
2. Online budgeting apps can offer features like real - time tracking, automatic categorization, and access from multiple devices, making them more effective than pen - and - paper budgeting.
3. Having an accountable person (like a trusted friend or family member) helps in staying on track with financial goals. A financial advisor should guide, not make decisions. Looking at the budget at the end of the month is reactive. Creating categories is part of budgeting but not the accountability aspect.
4. There is no fixed limit on budget categories; it depends on an individual's financial situation to ensure accuracy.

Answer:

1. Discretionary and variable
2. True
3. Finding a person you trust to help keep you on track with your money goals
4. No limit; use as many as you need to keep your budget accurate!