Question

you overhear your cousin talking about the importance of creating and sticking to a budget. all of the following are good reasons to create and stick to a budget except: having a budget can help you create an emergency fund; a budget can help you identify any bad spending habits; having a budget is a requirement for obtaining a mortgage; using a budget can allow you to work towards your financial goals. question 8 2 pts which one of these expenses most likely represents a variable cost in someones budget? rent; student loan payment; car insurance premium; electricity bill

Explanation:

First Question (Budget Reasons Except):

• Analyze each option:
• Creating an emergency fund, identifying bad spending habits, and working toward financial goals are typical benefits of budgeting.
• Lenders for mortgages focus on credit, income, and debt - to - income ratio, not requiring a budget. So "Having a budget is a requirement for obtaining a mortgage" is the exception.

• Define variable cost: A cost that changes with usage or consumption.
• Rent, student loan payments, and car insurance premiums are usually fixed (same amount regularly).
• Electricity bills vary based on usage (e.g., more electricity used means a higher bill), so it's a variable cost.

Answer:

C. Having a budget is a requirement for obtaining a mortgage

Second Question (Variable Cost):