What critical step is missing from these instructions?
"To prepare a monthly budget, divide annual income by 12 to get the monthly income total. Then determine monthly expense categories and amounts that can be spent based on the monthly income figure."
A) Add family contributions to the annual income amount.
B) Allocate a percentage of monthly expenses for credit card purchases.
C) Build up a solid credit history before doing a budget.
D) Subtract large one-time expenses from annual income before dividing.
E) Include projections for wage increases to annual income amount.
Answer: D
Explanation: D) The money available to spend on monthly expenses should be calculated after large, one-time expenses are subtracted from the annual income amount.
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