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How to Set Up a Budget: Activity 1 of 3

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One way to start budgeting is to look at what you spend money on. Some things in a budget, like rent, are fixed expenses. You can’t easily change them. Others, like eating out, are flexible, so you can cut back on them.

Sol and Viv have three kids. The oldest will go to college in a year. Even with two incomes, Sol and Viv need to budget so they can help their son pay for school. Look at what they spend money on. Check "yes" for the items that can be cut down or cut out. Check "no" for those that can't be cut.
Question 1 of 3