ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -While a budget can help you control spending and avoid debt, only a minority of people actually stick to a regularly updated budget. In fact, 73% of Americans say they don’t regularly follow a budget, according to a recent survey by OppLoans, a loan servicing company.

Detailed explanation-2: -Another common reason people do not budget is because they feel too broke to budget. It can be scary to write down all the money you have going out each month and realize that you do not have enough cash flow to cover it. Many people forgo a budget and simply hope that things will magically work out.

Detailed explanation-3: -The total budget for your survey is the sum of the fixed costs, variable costs, and (possibly) the incidental costs. To estimate the total variable costs, you will need to know your intended sample size (n) and estimate the response rate (RR), which is the number of completed interviews per attempted interviews.

Detailed explanation-4: -Best overall free app: Mint. Best app for beginners: Goodbudget. Best app for serious budgeters: You Need a Budget (YNAB) Best app for small business owners: QuickBooks Online. Best app for business expenses: Expensify.