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5. You advise Eloise and Gunnar to list their mandatory expenses . Judging by the confused looks on their faces, they have no idea what you mean. Please explain what these are. _ ______________________________________________________________________________ _ ______________________________________________________________________________ 6. Gunnar and Eloise figure they have $2575 in mandatory expenses every month which include their housing costs, and credit card and student loan payments. Gunnar also has a monthly medical expense related to a severe ABBA allergy he acquired as a child in Sweden, a portion of which is not covered by his medical insurance. What are mandatory expense categories and which have they overlooked? _ ______________________________________________________________________________ _ ______________________________________________________________________________ 7. Gunnar and Eloise are stunned when you tell them that savings is a mandatory budget expense. Are you sure about this? Explain. _ ______________________________________________________________________________ 8. Eloise doesn’t understand the difference between a recurring expense and a nonrecurring expense . Explain, please. _ ______________________________________________________________________________ _ ______________________________________________________________________________ 9. Eloise and Gunnar would like you settle an argument. Gunnar considers his $75 per month membership in Viking Bros to be a mandatory expense . It is a group of guys who go around mentoring students in the ways of the ancient Vikings. Is it a mandatory expense, really? _ ______________________________________________________________________________ _ ______________________________________________________________________________ _ ______________________________________________________________________________ 10. Gunnar and Eloise have been arguing a lot about money. Tell how a budget can help restore harmony to financial coupledom . _ ______________________________________________________________________________ _ ______________________________________________________________________________ _ ______________________________________________________________________________ _ ______________________________________________________________________________ PRODUCT PREVIEW
Chapter 14 | The Beauty of the Budget 272
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