ECONOMICS
BUDGETING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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rent
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cell phone plan
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clothing
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car insurance
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Detailed explanation-1: -The three types of annual Government budgets based on estimates are Surplus Budget, Balanced Budget, and Deficit Budget.
Detailed explanation-2: -Start with a financial self-assessment. Once you know where you stand and what you hope to accomplish, pick a budgeting system that works for you. We recommend the 50/30/20 system, which splits your income across three major categories: 50% goes to necessities, 30% to wants and 20% to savings and debt repayment.
Detailed explanation-3: -Zero-based budgeting is when your income minus your expenses equals zero. Perfect name, right? So, if you make $3, 000 a month, everything you give, save or spend should add up to $3, 000. Every dollar that comes in has a purpose, a job, a goal.
Detailed explanation-4: -This budget is prepared normally for a period of 5 to 10 years. Example : Capital expenditure budget, research and development, long term finances etc.