ECONOMICS
BUDGETING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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credit score
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emergency fund needs
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expenses
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available investments
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Detailed explanation-1: -Gather your financial statements. These documents, such as bills, mortgage statements, and account statements, can help you see exactly where your money is going. Looking for charges you make regularly can help you determine your largest expenses.
Detailed explanation-2: -Some common examples include car repairs, home repairs, medical bills, or a loss of income. In general, emergency savings can be used for large or small unplanned bills or payments that are not part of your routine monthly expenses and spending.
Detailed explanation-3: -When you track your spending, you know where your money goes and you can ensure that your money is used wisely. Tracking your expenditures also allows you to understand why you’re in debt and how you got there. This will then help you design a befitting strategy of getting out of debt.
Detailed explanation-4: -Start an emergency fund. Review non-essential spending. Consider a personal loan. Make extra money. Check your insurance. Use Bright to build an emergency fund.