Personal Finance*- Monthly Budget Quick Check
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Brian makes $1,000 per month. His fixed monthly expenses are $600 for rent, $65 for utilities, and $30 for his cell phone. He also wants to save 20% of his salary. What is his budget for his entertainment and any extras?
$105
What is defined as a fixed expense?
an expense whose total amount does not change from month to month
What does the acronym ROI stand for?
return on investment
What is net worth?
the value of the assets and money that a person or business has, after their debts are taken away
What type of expense can you reduce most easily?
variable expenses
