Question

when you estimate expenses for a month you should....
a. add expenses for rent/mortgage, utilities, food, gas
b. round all expenses down
c. add only the rent/mortgage and utility expenses
d. estimate that it will be about 20% of your net income

Answer 1

If I remember from class correctly, your monthly expenses should be about 20% of your net income, so the answer would be D. Although, adding up the expenses would work as well.