ECONOMICS
BUDGETING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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estimate your income as more than you think you will receive
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estimate your income as less than you think you will receive
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don’t estimate your income as all
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put any number you want
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Detailed explanation-1: -Try a zero-sum budget The trick is to treat your savings goals as expenses. For example, your “expenses” may include saving for an emergency, vacation or homeownership. “There are several strategies you can use to budget with an irregular income, but one of the easiest ones is the zero-sum budget.”
Detailed explanation-2: -Define your essential monthly expenses. Track your spending meticulously. Estimate your lowest monthly income. Identify non-essential expenses. Consider building an emergency fund. Keep your budget accessible. Don’t get discouraged-keep budgeting! Keep your cash safe.
Detailed explanation-3: -Begin Your Preparation Checklist. Complete Year-to-Date (YTD) Analysis and Forecasting. Set Your Strategic Goals. Select Your Best Budget Input Process. Plan Carefully in Times of Uncertainty. Enjoy 4 Key Outputs of a Successful Annual Budget. Treat Your Annual Budget Like a Project. More items
Detailed explanation-4: -Sleep on big purchases. Never spend more than you have. Stick to a lower credit card limit. Budget to zero. Try a no-spend challenge. Stop paying for fees. Plan your meals. Do your grocery shopping online. More items