ECONOMICS
BUDGETING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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True
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False
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Either A or B
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None of the above
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Detailed explanation-1: -most short-term goals are based on activities over the next two or three years. Assess your personal and financial situation (needs, values, life situation). Set personal and financial goals. Create a budget for fixed and variable expenses based on projected income.
Detailed explanation-2: -The budgeting process starts with monitoring current spending. 2. Most short-term goals are based on activities over the next two or three years.
Detailed explanation-3: -A few examples of flexible expenses include what you pay for monthly groceries, clothing, and transportation, as the total cost of all of these things will most likely vary.
Detailed explanation-4: -Fixed expenses generally cost the same amount each month (such as rent, mortgage payments, or car payments), while variable expenses change from month to month (dining out, medical expenses, groceries, or anything you buy from a store).