BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which of the following is the most important consideration when planning your budget?
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Budget for your needs before your wants.
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Budget for unexpected events in before expected expenses.
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Budget for fixed expenses before flexible expenses.
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Budget for expected events before unexpected expenses.
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Explanation:
Detailed explanation-1: -The first and biggest fixed expense to consider is your rent or mortgage payment. It’s such a big item, it might even be easy to forget! But be sure that you are allocating a portion of your monthly income to paying rent and other associated living expenses, like water, electricity, and heating or air conditioning.
Detailed explanation-2: -General Expenses Necessities: Your necessities are essential expenses that you can’t live without, like rent and groceries. Savings: This can include your personal savings account, 401k, and more. Your savings are how much money you’re going to put away each month.
There is 1 question to complete.