What is the biggest challenge when budgeting?
Not earning enough money
Not being able to control your spending
Being honest with yourself
Having too high of savings goals

Your monthly rent would be a….
Fixed Need
Variable Need
Fixed Want
Variable Want

Which type of worker would have the easiest time building their budget?
A full-time worker (fixed hours) with no other income
A full-time worker (fixed hours) with a side-hustle
A part-time worker (flexible hours) with no other income
A part-time worker (flexible hours) with a side-hustle

If your emergency fund is low, you should refill it by…
Taking money out of your regular savings to fill the fund
Doubling your regular savings to refill the fund
Take all cash left over at the end of each month and contribute it to the fund
At a lower goal for your emergency fund

Reducing which type of expense would have the biggest long-term impact on your budget?
Wants
Needs
Variable
Fixed

Budgeting is difficult with inconsistent income and spending because budgeting requires setting limits on spending and flexible streams of income. A high level of personal honesty is required.

2. The monthly rent is A. a fixed need.

3. It is easier for B. A full-time worker (fixed hours) with a side-hustle to build their budget than for a part-time worker.

4. The best option for refilling an emergency fund is C. Take all cash left over at the end of each month to contribute to the fund.

5. The type of expense to reduce for the biggest long-term impact on your budget is A. Wants.

What is the difference between need and want?

A need is different from a want. A need is mandatory because it arises from necessity, while a want is discretionary. Rent expense is not usually variable but fixed.

Thus, the biggest challenge with budgeting is not earning sufficient income, inability to control spending, or having too high savings goals, but being honest with yourself.

Learn more about the challenges of budgeting at https://brainly.com/question/3457918