Question

Which of the following should NOT be considered when setting a current budget?

Answer 1

future income.

when you set up your first budget you will use only the dollars you have on hand right now. you may be wondering how to plan for next pay check (and the next after that) . you may be asking yourself can I budget my future income. in a word-no.

Answer 2

There are different kinds of budget. What should not be included in a budget is future income.

Some things that one should never include in your budget includes;

• Extra Paychecks
• Income Tax Refund
• Bonuses gotten from sales
• Other Side business or hustle etc.

Note that one does not know Future income as it cannot be factored in. Therefore it should not be considered when setting a current budget.

This is because the economy is not only controlled by economic policy or statistics that anticipate growth but outside influences too.

See full question below

Which of the following should NOT be considered when  setting a current budget?

Future income

Needs and wants

Savings

Your financial goals

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