directions: read each question carefully. cho...
directions: read each question carefully. choose the answer that best completes the statement or provides the best answer to the question. 16. you overhear your cousin talking about the importance of creating and sticking to a budget. all of the following are good reasons to create and stick to a budget except: a budget can help you identify any bad spending habits using a budget can allow you to work towards your financial goals having a budget can help you create an emergency fund having a budget is a requirement for obtaining a mortgage 17. which one of these expenses most likely represents a variable cost in someones budget? electricity bill rent car insurance premium student loan payment
Answer
# Brief Explanations:
16. A budget helps with spending habits, financial goals, and emergency - fund creation. However, having a budget is not a requirement for obtaining a mortgage. Lenders mainly look at credit score, income, debt - to - income ratio etc.
17. A variable cost changes from month to month. Electricity bill depends on usage and can vary greatly. Rent, car insurance premium, and student loan payment are usually fixed amounts.
# Answer:
16. Having a budget is a requirement for obtaining a mortgage
17. Electricity bill