Which of the following is NOT a component of a budget?

A budget is a financial plan that outlines an individual's or organization's expected income and expenses over a specific period. The primary components of a budget typically include income, fixed expenses, and variable expenses.

Income refers to the money that an individual or household earns or receives, which serves as the foundation for any budget. Fixed expenses are consistent, recurring costs that do not change month-to-month, such as rent or mortgage payments, insurance premiums, and loan repayments. Variable expenses are costs that can fluctuate, such as groceries, entertainment, and personal care items.

Investment expenses, while they can be an important aspect of overall financial planning and investment strategies, are not considered a direct component of a budget. They pertain specifically to the costs associated with managing investments, such as brokerage fees or mutual fund expenses, but they do not form part of the core structure for budgeting one's day-to-day financial management.

In summary, while income, fixed expenses, and variable expenses are fundamental elements that help individuals track their finances effectively, investment expenses fall outside the primary components of a budget, making this choice the correct identification of something that does not belong in the standard budgeting framework.