Question

creating a monthly budget (part 3)

• includes the following steps

o totaling monthly and expenses

• together all income and all expenses
• if the income is than the expenses, money will be left in the budget, which can be saved for the future
• depending on the amount, a person may want to create a savings plan for college or or allocate those to pay off other debts
• if expenses are greater than income, adjustments will need to be made to

retirement add resources greater income expenses

Explanation:

Step1: Identify the first blank

The process starts with totaling monthly income and expenses. So the first blank is "income".

Step2: Identify the operation for the second blank

We need to combine all income and all expenses, which means adding them together. So the second blank is "add".

Step3: Identify the condition for the third blank

If money is left in the budget (can be saved), it means income is more than expenses. So the third blank is "greater".

Step4: Identify the savings - related option for the fourth blank

Common savings goals include college and retirement. So the fourth blank is "retirement".

Step5: Identify the general term for the fifth blank

The money can be allocated to resources. So the fifth blank is "resources".

Step6: Identify what to adjust for the sixth blank

If expenses are greater than income, adjustments need to be made to expenses. So the sixth blank is "expenses".

Answer:

income, add, greater, retirement, resources, expenses