Question

Nathan is a sales rep who, based on last year, averaged $2,200 of monthly commission before taxes. He should include

Answer 1

False, Nathan should not include this in his budget.

When budgeting, there are several things that one should include such as:

• net income
• debt repayments
• food
• utilities
• insurance
• savings and others

Notice how one should include their net income not their gross income. Net income is what comes after tax and this is the disposable income that a person has and can spend from.

In conclusion, Nathan should only include his net income and as this commission is before taxes, he should not include it.

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