ECONOMICS
BUDGETING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Means there are no rules-you are free to use your money however you want
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Adds more stress to your life
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Restricts your fun completely
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Gives you permission to spend
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Detailed explanation-1: -The biggest budgeting mistakes to avoid are estimating costs, forgetting to account for all your expenses, being overly restrictive and leaving savings out of your budget. Fortunately, they’re all avoidable.
Detailed explanation-2: -Budgeting is the process of creating a plan to spend your money. This spending plan is called a budget. Creating this spending plan allows you to determine in advance whether you will have enough money to do the things you need to do or would like to do. Budgeting is simply balancing your expenses with your income.
Detailed explanation-3: -8 Reasons Regular People Hate Budgets. We don’t want to be held accountable. We are living in denial. We don’t know how to get started. We think it will be too much work. We don’t make enough to need a budget. We tried budgeting before, and it didn’t work. We always get in a fight when we talk about money. More items •14-Oct-2020
Detailed explanation-4: -You don’t make enough money. There are only so many ways you can reduce your expenses and cost cut. You’re contributing too much to your 401k. You didn’t financially prepare to take on dependents. You’re too emotionally drained by having debt. 28-Oct-2022