Budget Variances

1. Who recommend a budget in order to track how you spend your income?
2. The goals of budgeting include helping you:
A. Working smarter
B. Living within income
C. Spending money wisely
D. Reaching financial goals
E. Preparing emergency finance
F. Getting married
3. A budget variance is the difference between __________________ and
the actual amount ______________________.

4. How many states of budget variance? What are they?

5. According the video clip, the budget variance of a family is surplus or
dicifit in the first example? What is the amount of variance?

6. What can a family do with the amount of variance in the first example?

7. A deficit is the amount by which _____________________________.

8. According the video clip, the budget variance of a family is surplus or

dicifit in the second example? What is the amount of variance?
9. What can a family with the amount of variance in the second example?

10.How long should we take to evaluate budgetting?

11.Why should we evaluate budgetting periodically?

12.What should we do if butget variance do occur on a regular basis?

13.Why should we evaluate budgetting periodically?