What condition exists if you have a monthly spending deficit? You have an outstanding

Your monthly expenses are greater than your monthly income.

Explanation:

A deficit means having a shortage. If one has a monthly spending deficit, it implies the expenses are more than the income. A deficit arises when the budgeted expenditure is more than the income.

A deficit contrasts with a surplus, which is a situation when one has more money than the planned expenses. In a surplus, one has an excess of money, but in a deficit, one has insufficient amounts to meet all expenses.

The third option.

Losses can be used to offset taxes, and earnings are taxed.