Question

1 point
if you spend less money than you earn, you have a budget

• surplus
• expense
• deficit
• want

1 point
paige sets up her budget so that every single dollar is accounted for using the ______ strategy.

• 50/30/20 budget
• cash envelope budget
• pay yourself first
• zero-based budget

Explanation:

1. For the first question: When spending is less than earnings, the leftover amount is a budget surplus. An expense is a cost, a deficit is when spending exceeds earnings, and a want is a non-essential desire, so these do not fit.
2. For the second question: The Zero-Based Budget strategy requires that every dollar of income is allocated to a specific purpose, leaving no unaccounted funds. The 50/30/20 budget splits income into three fixed percentage categories, the Cash Envelope Budget uses physical envelopes for categories, and Pay Yourself First prioritizes savings before other expenses, so these do not match the description.

Answer:

1. surplus
2. Zero-Based Budget