Introduction Chapter 5, “Financial Plans: Budgets,” introduces the topic and dem

Introduction
Chapter 5, “Financial Plans: Budgets,” introduces the topic and demonstrates how organized financial data can be used to create a plan, to monitor progress, and to adjust goals. Reading Assignment
Read Chapter 5 of the Personal Finance textbook by Rachel Siegel and Carol Yacht.
Discussion Forum Question
Review the material in Chapter 5 on “Financial Plans: Budgets.” Discuss one of the following in at least 100 words.
What are the causes of budget variances?
OR
Jake has discovered a large budget variance in his gas (fuel) expenses. What can he do about it?
OR
Willow’s annual budget is in disarray because of unexpected variances, some of which are not in her control. She was not expecting a 10% rent increase, which increased her expenditures, nor a 15% increase in contributions to her employer’s health insurance plan, which reduced her income. In addition, her savings lost future value when her bank reduced its interest rate by 2.5%. At the same time, she spent more on clothing, entertainment, and gifts than she realized—more than she had budgeted for. Willow is discouraged. What should she do?
Go to the Discussion Forum for Unit 4 and engage in a dialogue with your classmates on the above issues. After posting your response, rate your classmate’s posts and respond to at least three.