Check Your Understanding: What’s Coming In Check Your Understanding: What’s Coming In Enter your text here 1. What are the two sides to a budgeting equation? Money coming in (your income) and money going out (your expenses). Your investments and your expenses. What you spend and what you save. 2. Which of these should be subtracted from your gross monthly income to calculate take-home pay? Your mortgage payment. All of your fixed expenses. Federal, state and local taxes. 3. How can you manage your income if it is irregular, from freelance work or self-employment? Guess how much you think you'll earn at the start of each month. Deposit all checks into a savings account, then pay yourself a paycheck from that savings account each month or every two weeks. Keep all of your money in a checking account so you can draw from it as needed. Enter your text here Time's up SECTION 1: Getting Started Lesson 1: Introduction2:47 SECTION 2: The Budgeting Equation Lesson 2: What’s Coming In3:27 Check Your Understanding: What’s Coming In3 questions Lesson 3: What’s Going Out4:48 Check Your Understanding: What’s Going Out3 questions SECTION 3: Creating a Budget That Works for You Lesson 4: Drafting Your Budget4:51 Check Your Understanding: Draft Your Budget3 questions Lesson 5: Make Changes7:30 Check Your Understanding: Make Changes3 questions Lesson 6: Put it into Practice9:05 Check Your Understanding: Put it into Practice3 questions
