Which of the Following Should Not Be Considered When Setting a Current Budget? Everfi

Creating a realistic and effective budget is one of the most important steps anyone can take toward financial well-being. Whether you’re organizing your personal expenses or managing a small business, budgeting helps you understand where your money is going and how to plan for the future. But when you’re learning about budgeting, especially through educational platforms like Everfi, a common question might catch your attention: Which of the following should not be considered when setting a current budget? Everfi.

It seems like a pretty straightforward concept, right? Yet many people get tripped up by what actually belongs in a budget — and more importantly, what doesn’t. In this post, we’ll explore that question in a simple, easy-to-understand way so you can become a smarter spender and saver.

What Is a Budget, Really?

Before we dive into what not to include, let’s start with the basics. A budget is simply a plan for your money. It lays out how much you expect to earn and how much you plan to spend over a certain period, usually monthly.

Imagine your money is like water in a bucket. A budget helps you control the flow — making sure you’re not pouring out more than you’re pouring in. Without a budget, your money could just leak away without you realizing it. Sound familiar?

Budgets are powerful tools that help you:

Track spending habits

Save for goals

Prepare for emergencies

Avoid unnecessary debt

But here’s the big mistake most people make — they lump in things that have nothing to do with their current financial reality.

Common Elements You Should Consider in a Budget

To understand what doesn’t belong, we first need to understand what should go into a well-crafted budget. So let’s break it down.

Income: This is the money you take home after taxes, including your salary, bonuses, freelance work, and any other sources of income.

Fixed Expenses: These are costs that stay the same each month, like rent, mortgage payments, car loans, and insurance.

Variable Expenses: These change month-to-month and include groceries, gas, dining out, and entertainment.

Savings: Whether you’re saving for a trip, retirement, or an emergency fund, savings should be part of your regular budget.

Debt Payments: If you have credit card debts, student loans, or other obligations, budgeting for monthly payments is essential.

Including these elements helps you create a snapshot of your current financial status — one that you can actually use to make informed decisions.

So… What Should Not Be Considered When Setting a Current Budget?

Now, let’s answer the million-dollar question: Which of the following should not be considered when setting a current budget? Everfi.

The correct answer may surprise you — it’s future income that is not guaranteed.

That’s right. Hoping for a raise next month? Expecting a bonus by year’s end? Planning to sell your old bike and make a quick $100? As tempting as it is to count that money, it’s not part of your current financial picture.

Here’s why: relying on money that hasn’t arrived yet — or may never arrive — can lead to overspending and under-saving. Basically, you can end up making decisions based on “fantasy money,” which is a dangerous game. Our brains love optimism, but your budget has to stay grounded in reality.

Why It’s a Mistake to Include Future or Uncertain Income

Think of it like planning a party with a guest who said they “might” bring drinks. If you don’t account for them not showing up, everyone could go thirsty. Or worse, you might spend money you never had in the first place.

Here are a few reasons including uncertain future income is a mistake:

It encourages reckless spending: If you think more money is on the horizon, you’re more likely to stretch your current spending limits.

It skews your financial picture: Your budget should reflect what you actually have, not what you wish you had.

It disrupts financial discipline: Accurate budgets teach you how to live within your means. Counting on maybe-money does the opposite.

It’s okay to be hopeful about future earnings — just don’t budget with them. Once that money actually arrives, you can then revise your budget accordingly.

Examples of What NOT to Include in Your Current Budget

To make it super clear, here are some real-life examples of income or scenarios that should not be part of your current budget:

Anticipated bonuses or commissions: Even if you usually receive them, these fluctuate and are not reliable.

Items you plan to sell: That old couch might sit on Facebook Marketplace for months — don’t bank on it until it’s sold.

Lottery or gambling winnings: Not only are they inconsistent, but they also encourage risky spending behavior.

Promised gifts or loans: Unless the money is in your account, it’s not real — budget with money you already have.

You wouldn’t spend money from a scratch ticket before actually scratching it, right? Budgeting is the same.

How to Handle Irregular or Seasonal Income

What if your income isn’t steady? Maybe you freelance, drive for a rideshare company, or work on commission? That’s okay. Budgeting is still possible — you just have to be smart.

Here’s how to budget when your income varies:

Use a conservative estimate: Base your budget on your lowest-earning month from the past year.

Create a buffer: Save extra income during high-earning months in a separate account to cover leaner times.

Track trends: Over time, patterns may emerge that help you predict income swings and budget accordingly.

Again, the focus should always be on what you currently have, not what might be coming in the door next week or next month.

Why Everfi Emphasizes Realistic Budgeting

Everfi, an educational platform that offers courses on financial literacy, stresses the importance of creating a budget that reflects your current reality. And that’s why their course raises the question: Which of the following should not be considered when setting a current budget? Everfi.

The answer isn’t just about numbers — it’s about mindset. Everfi wants learners to build good habits that last a lifetime, and part of that is understanding that budgeting is about managing the money you have now.

Here’s something personal: When I first started using a budget, I made the mistake of including a freelance check that I was “pretty sure” would hit my account by the end of the week. You know what? It didn’t. I overdrew my account, paid a fee, and had to live off peanut butter sandwiches for three days. Lesson learned — don’t count your chickens (or checks) before they hatch.

How to Build a Smarter Budget Today

Ready to set your own realistic budget? Here’s a simple plan to get started:

Write It Down or Use an App: Whether you’re a pen-and-paper kind of person or a tech lover, tracking matters. Try tools like Mint, YNAB, or Everfi’s budgeting tools.

List Income First: Only include income that is 100% guaranteed. Think salary, child support (if consistent), or side gig income that’s already in motion.

Subtract Fixed Costs: Rent, utilities, and must-pay items come next.

Account for Variable Costs: Estimate these based on past months, then monitor closely.

Prioritize Savings: Even a few dollars a month can add up over time.

Review Monthly: Life changes — so should your budget. Update regularly to keep it relevant.

Before long, budgeting might actually feel empowering rather than stressful.

Final Thoughts: Budget with Clarity, Not Hope

So, circling back to our main question — Which of the following should not be considered when setting a current budget? Everfi — now you know the answer and the reason behind it. Including future income that isn’t guaranteed sets you up for potential trouble.

Remember: a budget isn’t a dream board. It’s a strategy map. It helps you see the road ahead clearly, make better choices, and avoid financial potholes. Keep it honest, realistic, and grounded in what you have today — not what you hope you’ll have tomorrow.

Planning for tomorrow is smart. But budgeting has to start with today.

So the next time you’re tempted to include that “maybe” paycheck or expected bonus, stop and ask yourself: “Do I have this money right now?” If the answer is no, it doesn’t belong in your current budget.

Now go build that budget — the smart way!