Question

intuit for education
name: malik jr
date:
credit karma budget calculator
overview: in this activity, you will evaluate various scenarios to understand how budgets help achieve financial goals. youll do so using a credit karma budget calculator.
part 1: check for understanding

1. what are the elements that need to be included in a budget?
2. what specific types of expenses should you put into a budget?
3. how can budgets help you achieve your financial goals?

Explanation:

Identify core elements of a budget

Income, expenses, and savings.

Categorize types of expenses

Fixed expenses and variable expenses.

Determine how budgets support financial goals

By tracking spending, preventing overspending, and allocating funds systematically toward savings.

Answer:

Question 1

Income, expenses, and savings.

Question 2

Fixed expenses (e.g., rent, insurance) and variable expenses (e.g., groceries, entertainment).

Question 3

By tracking spending, preventing overspending, and systematically allocating money toward savings and long-term objectives.